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can we get a mortgage?

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Hello, We are currently renting at £450 per month.Both aged 58 and 57 respectively.The problem is that we both have occupational pensions which will bar us from claiming housing benefit when we retire fully and therefore will be paying full rent for the rest of our lives.
My query is would we get a mortgage of around £95000 on our combined income of £32,375? If so how many years would we get the motgage for and also what would the repayments be?
On the other hand,are we better off just carrying on renting?
Any sensible replies woukd be appreciated.Thankyou.

Comments

  • herbiesjp
    herbiesjp Posts: 8,499 Forumite
    The simple answer is yes

    Some lenders will be able to give you a mortgage and some until age 85

    Whether or not it would be right for you, will need careful analysis with an adviser

    HTH
    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.
  • Any idea which lenders would do this?
  • toonfish
    toonfish Posts: 1,260 Forumite
    Mg_NG wrote:
    I don't think I have heard that there's an age limit to getting a mortgage.

    I've been visiting this site for a while (and see no age limit), so maybe you can give this a try.

    well there's a surprise!
    why have you been "visiting that site for a while"?
    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.



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