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Does equity mean nothing for pensioners?

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  • samtoby
    samtoby Posts: 2,438 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker PPI Party Pooper
    We could move to a cheaper area where the same size/type of property could be bought for 110-120,000 but family are not keen. Why are the family not keen this is a bit fickle of them surely they should understand that you are in a dire situation and you would rather have a home that you own all be it smaller at least you would have one!

    Family cannot help the dilemma as they are already full committed.
    Just makes me think they are not being helpful! Alright to have an opinion if its not your finance!
    3 Children - 2004 :heart2: 2014 :heart2: 2017 :heart2:
    Happily Married since 2016
  • betmunch
    betmunch Posts: 3,126 Forumite

    Seem Halifax who I am meeting today have no age limits (HSBC too)

    Yes they do, its 75, HSBC is (I believe) 65

    You will have had something on the original application to pay back the mortgage at the end of the term so I would think very carefully, perhaps even ask TMB if you can have a copy of the application, assuming they still have it.

    If you have put sale of property, which is quite likely, then this make an already bad situation worse if it goes to court.
    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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