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Mortgage Advice Please
BostonR
Posts: 31 Forumite
My wife and I are in our early 50's (still young at heart)!
Thanks for any advice.
- Both working with a joint net income of £8K per month
- We have combined savings of £100K
- Both have solid work pensions.
- We have sold two houses and have a deposit pot of £650K
- Looking to downsize and buy new house at circa £750K
Thanks for any advice.
0
Comments
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In theory you could probably be cash buyers?
Taxking a mortgage out would not be a problem based on what you have said. Most lenders allow you to go up to 70, 75 or even 80 assuming you can evidence income beyond your retirement (Pension income is fine).I am a Mortgage AdviserYou 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 advice.0 -
I can't see anything to indicate the "type" of mortgage you should consider.
Are you talking about the rate type, such as fixed or tracker, or the repayment method, such as capital & interest, or interest-only?I am a mortgage broker. 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 advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »I can't see anything to indicate the "type" of mortgage you should consider.
Are you talking about the rate type, such as fixed or tracker, or the repayment method, such as capital & interest, or interest-only?
I am considering a fixed mortgage on repayment terms.0 -
Thank you.I am considering a fixed mortgage on repayment terms.
Is there something you are considering, on which you'd like an opinion then?
What products/rates/terms are you considering?I am a mortgage broker. 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 advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
kingstreet wrote: »Thank you.
Is there something you are considering, on which you'd like an opinion then?
What products/rates/terms are you considering?
I have trawled through a whole host of offerings. I am leaning towards a 5yr fixed rate and have seen HSBC offer a decent product. As you can tell I am no broker. Any advice would be welcome.0
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