Right to buy morgage

Kelly's_Eye

i am 58 and need to buy my council propery, I will receive a near £80,000 discount and have my son and wife living at home. Firstly can I get a morgage at my age and can we get a joint morgage between the 3 of us?
No cash savings as I have been paying it into a works pension for years, what are our options?

MortgageMamma

Yes you can get a mortgage, and you may be able to lend into retirement due to your pension contributions,

Yes three people can take a mortgage but I'm not sure if it would work in this case as your son would not be named on the tenancy? you'd also need to consider his exit strategy if he decided to move on and buy his own property.


By adding 3 people to the mortgage rather than two I think you would be reducing the amount of lenders available to you.

I don't do right to buy but I'd say you need to take professional advice and avoid those firms who want a £2k fee for doing it, £500 would be sufficient I would think.