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Buying A Park Home.
Comments
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picklepick wrote: »I seriously doubt that any lender would be willing to let you borrow £50,000 so late in life. Are you both retired?
First thing to do is speak to a mortgage adviser.
I can see the fact that you want to borrow against a park home, also being a problem, The depreciation will be an issue for any underwriter. If you default I can see them having a problem recouping their investment.
See the first paragraph of my original post where I wrote: "I am 69 and my wife is 63. I would like to retire soon and my wife has to retire within 2 years."0 -
Apologies, I missed that part.
There are specialist morgages for lending into retirement but they're typically only available for house purchases or remortgages.
Best thing is to speak to an advisor who will know better if there is anything that would suit your situation. I have used London and Country in the past.
If you have a bad credit rating, I can see this being a no-starter I'm afraid.What matters most is how well you walk through the fire0
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