Need a Mortgage - who do i turn to?

Pyrolator

Hi all, I wonder if anyone would be so kind as to assist me. I’m moving house and need an additional mortgage of c£120-£130k on a c£600k property. My questions are A) do I go direct to banks for the best deal or use an independent broker? will this cost me any fees C) I’m 55, what length of mortgage term is available to me?

I’d be ever so grateful if anyone could share their thoughts and expertise.

wjr4

a) independent broker/adviser
possibly but it is worth it

ACG

a) There is no definitive answer to that. Sometimes brokers get the best deals, other times its the banks directly. It all depends on your circumstances and what is around at the time.

b) It varies, some brokers do not charge, others charge anywhere up to a couple of ggrand. Most fall somewhere in the middle.

c) It depends on your planned retirement age and what income you have post retirement. Typically you can up to around 69-70, however if your pension is not enough and you plan on retiring at 67 then you would struggle to go beyond that.