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Over 60's mortgage help!!!

debbiefletcher
debbiefletcher Posts: 34 Forumite
in Mortgages & endowments
We are trying to move house and need to borrow a little more on our mortgage but my husband is now over 60 and when I have tried to enquire online I am refused.

Any ideas?

Comments

  • Jimbo1976
    Jimbo1976 Posts: 498 Forumite
    Speak to a mortgage broker. Do you know why you were refused? Maximum age, affordability etc?

    Most lenders will have a maximum age. Lenders will also need to be happy that the payments are affordable.

    If you give some details some of the wise folk who answer posts on here may be able to give you more guidance.
  • Mrs_pbradley936
    Mrs_pbradley936 Posts: 14,571 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    Not surprised if you have only enquired via a High Street lender - they tend to only want to deal with straight forward, run of the mill lending.
    You will have to speak to a broker that can give you an individual approach.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    debbiefletcher wrote: »
    We are trying to move house and need to borrow a little more on our mortgage but my husband is now over 60 and when I have tried to enquire online I am refused.

    Any ideas?

    Being over 60 isn't in itself a barrier. Much depends on what your current circumstances are and what you are trying to do.

    Providing some further information will enable better responses.
  • debbiefletcher
    debbiefletcher Posts: 34 Forumite
    Husband is 60, I'm 53. Have proof of earnings which make mortgage amount affordable. Currently have a mortgage but want to move house. Husband is employed full time and I have an income from property I let out. Have only tried HSBC online because their name came up as top 10 lenders to over 60's but when I tried to apply for a mortgage in principle online and put in our details it came back that they couldn't help us.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    debbiefletcher wrote: »
    Have proof of earnings which make mortgage amount affordable.

    Your view of affordability will differ to that of lenders. Lenders have to follow regulatory guidance when assessing affordability.
    I have an income from property I let out

    Is the property unencumbered?
  • debbiefletcher
    debbiefletcher Posts: 34 Forumite
    Thrugelmir wrote: »
    Your view of affordability will differ to that of lenders. Lenders have to follow regulatory guidance when assessing affordability.



    Is the property unencumbered?

    Yes it is.
This discussion has been closed.
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