Mortgage/Age related help required.

Zingara

Hope someone can help. Need a mortgage company that will lend money to someone who will be over the age of 75 at the end of the mortgage term.

I have a joint mortgage with my mum and want to remortgage over 20 years. Providing nothing else happens in the meantime, by the time the mortgage is up she will be over 80. She does have a guaranteed pension from her current employment and technically doesn't contribute to the mortgage, although she is obviously liable for payments if things go wrong.

Currently with Halifax and if needs be I can remortgage with them but I really am looking for better interest rates than what they are offering.

Would a broker be my best option or am I wasting my time?

Thanks,

Karen

MortgageMamma

Hi Karen

There are still a handful of companes about that will not put an upper age limit on the mortgage, providing your mum can prove she has sufficient income in retirement

You are right that due to the fact your situation is not straightfoward and you are looking to secure a more competitive product it would be a good idea to use a fee's free whole of market broker

Mr_helpful

Its not a problem but yes an independent broker would be a good idea one thats fees free even better

qcvs2000

I have a similar question, I have a mortgage at the moment with 90000 left to pay in 15 years, I would like to drop the amount quckly over the next 4 year and remortgage for an additional 150,000 I currently have 60000 equity in the property. The aim is to get ot 100000 equity ten re-mortgage for 20 year based on a 30000 endownment and my pension lump sumpayable at 55. I aim to rent the proprty whilst I am in the military, though it wil be our residence when I am in the country. Does this make sense.

I am current 40 Years old and earn 40k rising to 50kin the near future. My pension lump sum should be 110000k at current pay scales and a pension of either 25k or 33 K depndant on which plan I choose the first plan has a lower year income but has two lump sums one at 55 (110000k) and one a 65 (110000k).

Mr_helpful

Once again this ought to be fairly easy.