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Mortgage for Pensioner's
LOUBS
Posts: 9 Forumite
Is there a mortgage out there for pensioner's
My Dad is 70 and Mum is 67, I have been on the mortgage but they want to take me off.
They defitnatley do not want to do Equity Release which seems to be the only thing around
Nationwide misinformed us with incorrect info when taking out the mortgage, they said that if at anytime they could remove me and this would not effect the mortgage payments etc
So! when we go to do this they then turn round and say no, parents can keep the interest rate but would have to apply for a new mortgage and because my Dad is 70 would have to pay it back within four years, very frustrating for us all
Only other option is to put the property up for sale but at their age and with my Mum's has many health issues they would rather not go through the stress of moving etc
Any info would be gratefully received
Many thanks
My Dad is 70 and Mum is 67, I have been on the mortgage but they want to take me off.
They defitnatley do not want to do Equity Release which seems to be the only thing around
Nationwide misinformed us with incorrect info when taking out the mortgage, they said that if at anytime they could remove me and this would not effect the mortgage payments etc
So! when we go to do this they then turn round and say no, parents can keep the interest rate but would have to apply for a new mortgage and because my Dad is 70 would have to pay it back within four years, very frustrating for us all
Only other option is to put the property up for sale but at their age and with my Mum's has many health issues they would rather not go through the stress of moving etc
Any info would be gratefully received
Many thanks
0
Comments
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How much is the mortgage - what is their pension income ?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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