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Mortgage for a couple of oldies!!
carolann312
Posts: 70 Forumite
Thinking of selling up and downsizing as son is off to Uni soon.
Where would be stand on getting a mortgage for a new home. Would we only be able to get a mortgage term up to my husband's retirement age which is in 10 years? I realise a 25 year term would be impossible but do lenders go past retirement age as lots of people work past their 65th birthdays these days. Thanks
Where would be stand on getting a mortgage for a new home. Would we only be able to get a mortgage term up to my husband's retirement age which is in 10 years? I realise a 25 year term would be impossible but do lenders go past retirement age as lots of people work past their 65th birthdays these days. Thanks
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Comments
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As with any mortgage, it will depend on the details of the case.
Typically, lenders are taking 67 or 68 as state pension age now and a few will go to age 70 without proof of income in retirement.
If you want longer, expect to be asked for pension forecasts.
A good independent broker will know which lenders will suit you best and which to avoid.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
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