tricky mortgage request

coreservers

OK here is our circumstance.
We had a house in Scotland. now under offer and missives complete. due to complete is 5 weekstime.
This will give us a deposit of around £40-45000. we want to buy a house nearer my employment as I drive 60 miles each day.
However. I am 50 my wife 66. we have no debts no bad credit, and have never missed a payment. we live in the south east of England now, and have seen a property we love. but can we actually get a mortgage.I am full time employed and very securely so. I'd ideally like a 25 year to 75 but am open to a 20 year to 70. obviously my wife is retired. Broker seems to think it's nigh on impossible.

Thrugelmir

Do you have guaranteed post retirement income?

coreservers

I have a company pension. however I can work to 70 as my company allows that

amnblog

If the mortgage if affordable on your income alone this is placeable. - even with your wife on the application.

The broker you have found is wrong, unless there are other problems with the case.

Senior_Paper_Monitor

Absolutely as amnblog states - all depends on actual figures (if it is not doable its because of income level rather than age)

coreservers

checked noddle my credit rating is 5/5, earnings are good and stable. hmmm seems a bit of a rubbish broker, time to move on, think I'll just call my bank, see what they say. been with them 20 years. not used overdraft once.

Thrugelmir

coreservers wrote: »

checked noddle my credit rating is 5/5, earnings are good and stable. hmmm seems a bit of a rubbish broker, time to move on, think I'll just call my bank, see what they say. been with them 20 years. not used overdraft once.

Why's your broker rubbish? Nothing in this post to suggest that. Self diagnosis has no value. Particularly credit scores that have no commercial value. Maybe your expectations are too high as to the amount you wish to borrow.

hcb42

you might want to post your income and amount of loan, that might be the crux of it?

coreservers

Ok I earn £34512, and we have deposit of £40-45000 we are looking for around £140000 to £145000. which doesn't seem too much

Senior_Paper_Monitor

The great majority of lenders will limit the mortgage (and calculate the affordability on) 9 years based on wife's age - which won't work, but there are a handful (possibly slightly less) who will let the term go the husbands 70th (or possibly 75th) which should be doable.

coreservers

just don't want to spend the rest of my life paying some landlord's mortgage, and being moved on every couple of years when they decide to sell up.