I wish I could stop worrying-need advise please!

SoloMio

I am 59 years old-always had my own house until I left my partner 6 years ago. House was sold-very little equity which I lived on for the last 6 years as well as working and paying the rent etc etc.
I am working full time (self employed)-have a small amount saved.
I realise that I am now too old to get a mortgage arent I?
I live in this constant state of panic about what is going to happen to me when I eventually retire-where am I going to live?
The type of job I do means that I will probably continue working past retirement age-but will probably still struggle to get a mortgage no?
Also due to the type of job I do-I receive income support and a proportion of housing benefit.
What should I do?
Any ideas and advice most welcome
Thankyou
Solo Mio

ACG

You can get a Mortgage until your 70th or even 80th birthday in some cases.

However, going past 70, most lenders would want to see what you would have to support the mortgage (ie a Pension).

In theory you could probably get a Mortgage over a 10 year period without too much of a problem, however what you have to bear in mind is that its going to be over a shorter period so the amount you can borrow is going to be limited (i would say maybe 2-3x income as a guide).

It could be worth sitting down with a broker to discuss if you have options on getting a Mortgage. But the sooner the better.

bugbyte_2

Could you talk to the council or housing associations about your situation? People do not get put out on the streets in this country so it will resolve itself.