Over50's mortgage?

rorysdad

Hi,

Looking to move from one part of the country to another specific part of the counry. Currently living in social housing (ex council house) paying rent.

I have never had a mortgage. I have 2 kids aged 11 and 18.

I don't want to private rent in the new location - so the only option would be a mortgage - but I am 55 this year!

I am self-employed and my income is low and variable. My partner does not work.

Chances of getting a mortgage with, say a 20% deposit?

Would the chances improve if, for instance I were looking for a property costing £150,00 and put down £100,000?

I don't see it happening but any advice much appreciated.

RD

minimike2

Depends on what your "low and variable" pay is.

Are you a Sole Trader or LTD? It will all depend on what your income actually is and what your financial commitments are (aka affordability) as to how much you will be able to borrow.