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Can I get a mortgage
RodCollier
Posts: 1 Newbie
I will be 65 in October, by then I will be in receipt of a number of pensions, including the State Pension. Total gross income will be £18000. I would like to buy a small property and would be looking for a mortgage of £70000, I can supply a deposit of 10% but would I even be considered? The mortgage term would be no longer than 13 years. I have no debts or other commitments, I want to avoid paying rent if at all possible.
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Comments
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Probably not at 90%, most lenders will restrict you to 10 years because of your age, meaning repayments will be close to £800 pm which would leave you very tight.I am a mortgage adviser.You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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