Is there a way I can move house at my age?

Slinky

For everybody you can find living happily independently in a 2 storey house at an old age, I'd bet you'd find there will be somebody else who has left it too late for all the bother and aggro of a move, struggling to live in a property that is too big, cluttered and no longer suitable for their needs.

I have friends in their late 50s who have just moved from a chalet bungalow to a bungalow which they are dragging into the 21st Century, and from which they don't intend to move again except in a box.

They are healthy people who live active lives and certainly not pipe and slippers in front of the telly sorts, but have made the choice to make the move whilst it doesn't disrupt their lives hugely.

tugrin

OK some answers to queries.
I am carp with money that is why I have so much owing and no there is no lump sum in the offing.
I have chronic bilateral hip bursitis for which I need regular steroid injections however the regularity is dodgy and there is usually a fairly annoying period between these shots when I am in pain and waiting. Walking on the flat is absolutely fine - stairs a killer! I also have arthritis in various joints. The 60 metres between my back door and garden is lit but would you appreciate taking a walk in the rain/snow/dark at 10 every night and waiting for dogs to do the necessary and then trolling back when most people can just open the back door and dogs go into automatic gear. Reasons for this are complicated and irritating and really have no bearing on my original question.;
Can I do anything under the new pension rules when I reach 65 to pay off last bit of mortgage?
I have a teachers pension coming too.
The dogs are my only reason for living - lets not go into this please.

Owain_Moneysaver

tugrin wrote: »

Thank you for replying. The house is.worth about £157000 and I still owe £68000 on a mortgage

So you have about £100k to spend on something suitable. Where are you willing to move to?

Plenty of places outside London and the South-east where that will buy you a ground-floor flat or a small bungalow (and they're a lot nicer than Jaywick which is the only place in East Anglia you appear able to afford).

cashbackproblems

tugrin wrote: »

OK some answers to queries.
I am carp with money that is why I have so much owing and no there is no lump sum in the offing.
I have chronic bilateral hip bursitis for which I need regular steroid injections however the regularity is dodgy and there is usually a fairly annoying period between these shots when I am in pain and waiting. Walking on the flat is absolutely fine - stairs a killer! I also have arthritis in various joints. The 60 metres between my back door and garden is lit but would you appreciate taking a walk in the rain/snow/dark at 10 every night and waiting for dogs to do the necessary and then trolling back when most people can just open the back door and dogs go into automatic gear. Reasons for this are complicated and irritating and really have no bearing on my original question.;
Can I do anything under the new pension rules when I reach 65 to pay off last bit of mortgage?
I have a teachers pension coming too.
The dogs are my only reason for living - lets not go into this please.

You still have not indicated 1. If you intend to retire at 65. 2. If so what your income will be from teachers pension 3. If you can with the equity buy something suitable ..have u considered a ground floor flat 4. If you do borrow more and there are lenders who will lend, can u afford the repayments and work for however long it takea. 5. How much cash savings u have outside pension

My grandparents have just had a stair lift chair fitted with they sit on and takes then upstairs, doesnt take much space and only cost a few k.

cashbackproblems

Also are there any treatments to improve your condition, as u are relatively young but sound like u have the body of a 80 year old

xylophone

What are the answers to the questions in post 25?

Money_saving_maniac

tugrin wrote: »

OK some answers to queries.
I am carp with money that is why I have so much owing and no there is no lump sum in the offing.
I have chronic bilateral hip bursitis for which I need regular steroid injections however the regularity is dodgy and there is usually a fairly annoying period between these shots when I am in pain and waiting. Walking on the flat is absolutely fine - stairs a killer! I also have arthritis in various joints. The 60 metres between my back door and garden is lit but would you appreciate taking a walk in the rain/snow/dark at 10 every night and waiting for dogs to do the necessary and then trolling back when most people can just open the back door and dogs go into automatic gear. Reasons for this are complicated and irritating and really have no bearing on my original question.;
Can I do anything under the new pension rules when I reach 65 to pay off last bit of mortgage?
I have a teachers pension coming too.
The dogs are my only reason for living - lets not go into this please.

I'm with you, I'm only 57 and all bits work, but would loathe having to take the dog down the road on a winter night!!

Moving sounds eminently sensible to me and you are lucky that a bungalow in your area would actually be cheaper than your current house.

So it's all down to affordability and part of that is going to be saying that you do not intend to retire at 65, but that you intend to work until you are 70....because lenders will lend to 70 just based on that, and will lend further into retirement on the strength of your pension.

What you need to do for your part is understand that your mortgage payments are going to be about £560 a month for you to pay the mortgage off in 10 years. Can you afford this if you do happen to retire at 65?

A lot is going to depend on your pension but I'm assuming you probably have a good one if you've always been a teacher.

As another poster said, a lot more detail is needed and a broker will go through it with you and give you solid advice.

Your best course of action is to go to a broker. Don't try and do this one yourself in my opinion. If you've never used a broker, don't be scared, mine costs £500 but only when I complete on the mortgage and his advice and support have been well worth the money. Even if I could get a mortgage now and not pay a broker fee I would still put the business his way.

Money_saving_maniac

cashbackproblems wrote: »

Also are there any treatments to improve your condition, as u are relatively young but sound like u have the body of a 80 year old

That's so rude and personal it could only have been typed not said face to face....


:eek:

Davesnave

Money_saving_maniac wrote: »

That's so rude and personal it could only have been typed not said face to face....


:eek:

Totally agree. My wife has exactly the same condition, which is why I was the one chasing those *@&%£! chickens, and she's only 56.

It isn't something that's life-threatening, just a damn nuisance, which is probably why it hasn't received the funding and research that other more prominent conditions have.

tugrin

Thanks for the support Davesnave and Moneysaving maniac - I have worked full time all my life brought up 2 children entirely on my own including sending one to a fee paying school and now my infrastructure is rather wearing out! No one is the least interested in sorting out my condition permanently and it does impact on my quality of life but I a trying to keep going as long as possible on my own.
Grump over
So the question is how to I track down an honest independent mortgage/financial advisor?