Mortgages and cancer

Rainyblue

Apologies if the answer to this is already on the forum somewhere... I searched and didn't find it if it is!

Seven months ago I was diagnosed with an incurable cancer - I'm feeling really well at the moment, and planning to stay that way for as long as I can. Unfortunately, on paper, I'm obviously not the best person to offer long term lending to. My condition could deteriorate suddenly despite my best efforts, and the usual prognosis with this cancer for 7 to 10 years' survival after diagnosis. It's my intention to confound the statistics and, as a single parent of two teenage daughters, my masterplan is to confound them (the statistics as well as the teenagers!) for as long as possible. I accept that lenders will take the bleaker view in assessing me and I'm nervous about going to my current lender or any other and being turned down - it would be a bit of a blow to my confidence, but also to my credit rating, I presume!

I already have a mortgage and could stick with that, of course, so the picture could be bleaker. My question is about whether I really am likely to be turned down by anyone I go to if I want to move or extend my mortgage, or if there are more human lenders tucked away somewhere? Or would I be better off and more sensible to resign myself to living in this house with this mortgage for the rest of my (hopefully lengthy!) life??

Rainy

kingstreet

It isn't a lending issue and won't be asked anywhere on the forms. As long as you can prove affordability and have a decent deposit, the lender's security is the property.

From your point of view, you won't be able to take protection like life cover or illness cover, but as long as you accept the implications, these things are just as optional for someone like you as they are for the well and able-bodied.

All the best. Don't let it get in the way of living your life.

Rainyblue

Many thanks, kingstreet. That's really reassuring

dimbo61

You dont give your lender or any details of what you are looking for ?
When your current deal expires you will revert to whatever the follow on rate is ? so read the mortgage paperwork to at least get an idea SVR/ Tracker
Consider building up savings to cover the mortgage when you are too ill to work
Good Luck the survival rates for cancer get better each year