To buy or not?

mum_of_lewis

I currently rent at £300 pcm I earn £24,600,i am a single parent of 1 child. Im seriously thinking of buying a house The only problem i can see is my age? im 35 on friday. Im looking at houses that are in the region of £90,000.

My question is do you think i have left it too late to buy considering my age?

Thanks. x

Yorkie1

You're not too old to get a mortgage - I got mine at 40.

ACG

The normal term of a mortgage is 25-30 years. That puts you at 60-65 when its paid off (scary though isnt it!).

But you can overpay and reduce the term as your wage increases.

People buy houses in their 50s so dont worry about that. Your not too old at all. As things currently stand if you did it over 25 years and put a 10% deposit down your repayments would be around £400-450 i imagine so it would be more than your currently renting for.