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Mortgages for the over 80's
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boycee_2
Posts: 15 Forumite
My father wishes to buy his council house (Scotland) - are there any lenders who are prepared to take on an 83 year old and if so what would the conditions be?
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Can he afford payments over the whole term?
This is key as he would have to have a much shorter term than someone younger and that pushes the payments up.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
There are very few lenders that will take on someone that old. The rates would be really high as well as none of the high street lenders would touch it. Like already mentioned can he afford the payments?0
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