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Mortgage aged 73 and 69?
sunflower_lass
Posts: 35 Forumite
My parents are aged 73 and 69, and have just bought a new house with cash for £450,000.
They would like to re-mortgage for about £50,000 in order to put a small extension on the house.
Do they have a chance at getting a mortgage at their age? Their joint pension income is around £26,000 and they have savings of £40,000.
Any and all advice appreciated!
They would like to re-mortgage for about £50,000 in order to put a small extension on the house.
Do they have a chance at getting a mortgage at their age? Their joint pension income is around £26,000 and they have savings of £40,000.
Any and all advice appreciated!
0
Comments
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If they think they have enough income to pay a mortgage wouldn't it make more sense just to use the savings and then pay those back asap from the income that they have to have used to pay the mortgage?0
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