Mortgage and retirement age question

jtothec

My husband is 47 and the main wage earner. I am 50 and for the past six years have stayed at home to look after the children, so not working.

We've had one mortgage in principle - the Nationwide approved us for the sum we want to borrow for a 22 years term.

But several others will take us only till I reach 65 which is only a 15 year term, and I'm not even the wage earner.

Just wondering if there are others that would consider us at our age. Although the Nationwide is good (we're already with them) I feel I would like to explore other mortgage lenders.

amnblog

I can think of close to 10 other lenders that might consider giving you a 22 year term.

However, if you don't want to engage a broker you may as well stick with Nationwide.

kingstreet

To be able to take the mortgage to age 70, he has to have evidence of pension contributions showing on his payslips, or other means of proving he has pension entitlement.

Nationwide won't write past state retirement age without.

Retirement is 10 years or more away

Current income is used for affordability purposes

Evidence of pension contributions must be provided (i.e. pension deductions on your client's payslip, or payments to a pension provider evidenced via bank statements)

http://www.nationwide-intermediary.co.uk/lendingcriteria/general/income

jtothec

Yes, he does have pension contributions showing on his payslip, and I guess that's why Nationwide have given us a mortgage in principle.
Just wondered if we could get a better deal by shopping around.