is there an age limit for mortgages?

Churchpolly

Hi, is there an age limit for mortgages? my husband is 67 but we own our own business and we may be looking for a mortgage of around 200,000 pounds early next year to add to a similar amount that we believe we will get for our present home. We can cover the debt with another property that we own (at present it is rented out but we own it outright) plus savings but rather than cash everything in we plan to pay off the mortgage, provided we can get one, with lump sums from the business over the next few years but we would want a twenty five year term in the first instance. Do you think there would be a problem with this? (I am ten years younger by the way). As usual any advice is most appreciated.
thanks, Polly.

herbiesjp

A lot of lenders restrict lending up to age 65.

However there are plenty of lenders that also have higher age limits or no limits at all

What is important is your ability to pay the mortgage, and the fact that you can verify the income that you are using in order to get the mortgage agreed

Best course of action will probably be a whole of market adviser who woudl easily be able to find suitable lenders after discussion with yourself

HTH

Churchpolly

many thanks HTH, that is very reassuring news!

we are going to be putting our house on the market early next year - at what stage would you recommend that we seek advice concerning the mortgage? Now? Or when we put the house on the market, or when it has been sold?

also what is the best way to find an adviser? is there an association or something and what would their charges be?

thanks alot

regards

Polly