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Age limit for mortgages?
bohma2000
Posts: 55 Forumite
Do lenders place a restriction on the life-span of mortgages when taking the age of the applicant into account? I currently have a mortgage with the Abbey which will be fully paid up when I am 71. I have had it for the last 10 years. I am now 56 years old. Would I be able to sell my current property and buy another on a 25 year mortgage? I, hopefully, would not want to borrow more than 80k.
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Do lenders place a restriction on the life-span of mortgages when taking the age of the applicant into account? I currently have a mortgage with the Abbey which will be fully paid up when I am 71. I have had it for the last 10 years. I am now 56 years old. Would I be able to sell my current property and buy another on a 25 year mortgage? I, hopefully, would not want to borrow more than 80k.
Some lenders have no restrictions on age.
Try the Nationwide!
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0 -
Some don't place restrictions, many limit to 75 at end of term. Most will want to know how you will be able to afford the mortgage in retirement.0
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:T :T There are numerous lenders who have no age restrictions
Ignore Joeks advise as the Nationwide is only one of many who will entertain your request
Speak to a independent mortgage broker who has access to, the whole of the UK market place, and not just the Nationwide
you know it makes senseI 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 advice0 -
:T :T There are numerous lenders who have no age restrictions
Ignore Joeks advise as the Nationwide is only one of many who will entertain your request
Speak to a independent mortgage broker who has access to, the whole of the UK market place, and not just the Nationwide
you know it makes sense
You are in danger of become a know all and all that you are looking for is to prospect people on this site.
I am a whole of market mortgage broker with more than 24 years of experience behind me, which is probably more than your current age.
Go home and play with your drum kit sony.
JoeKI am an Independent Financial Adviser.Anything posted on this forum is for discussion purposes only. It should not be considered financial advice. Different people have different needs and what is right for one person may be different for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser who can advise you after finding out more about your situation.0
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