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Age and mortgage applications
MOGGYMALONE
Posts: 197 Forumite
Is there an upper age limit on applying for a mortgage?
mogs
mogs
0
Comments
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It wholly depends upon your personal situation and the lender criteria.
Typically most range between end of mortgage term of 67 and 75 years of age, but obviously it has to be affordable.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
Thanks that is actually quite a bit higher than i had thought. cheers, Moggy.0
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67/68 is the new retirement age as that is when people in there 30,s 40,s and early 50,s will get the state pension.
Some lenders will look at up to 75 IF you have the pension income to support a mortgage or are getting a BTL mortgage ( rental income)0 -
http://www.halifax-intermediaries.co.uk/pdf/Hints-and-Tips-Post-MMR-Guide-for-Keying-Main-Applications.pdf
See page 15 for state pension ages based on date of birth.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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