too old?

worriedDan

Hi,

My wife and I will become unsecured debt free in around 2 and a half years. At this point I will be 39 years old and my wife 40.

We would like to move house at this point, however we are conscious that getting a mortgage may not be too straightforward due to our ages.

We will have a deposit of around 115k. It's difficult to say how much the houses will be in 2 and a half years time, however I imagine we will look at properties in the 300K region, so mortgage of 180kish. We both expect to be working well into our sixties.

We will be totally debt free by this point ( we won't move until we are!) and our credit file should be ok as we pay on time etc. Our current joint income is around 75K and we are not expecting this to decrease.

Will our ages be an issue?

-taff

No.



.........

sevenhills

Its about affordability. I got a mortgage last month(10 year mortgage), I am 56

glosoli

Your only 39/40 - not 90!

Thrugelmir

You've a good household income. Put your minds to the task at hand and you'll have no issues. Personally I target being mortgage free by ones 60's. That'll give you a margin of comfort should life take an unexpected turn.

Filo25

I purchased last year as a first time buyer at the grand old age of 43 and hadn't even cleared my debt at the time of purchase, had no bother getting 2 mortgage offers (first one fell through and was for even more than we subsequently purchased for), so I wouldn't be too concerned!

Lauralou79

I was a first time buyer at 38 this year. We got a mortgage no problems for 25 years (Tho intend this to be paid before I'm 60) our state retirement age is 68 so it shouldn't be an issue!

Akahotpot

I just got a 5 year fixed 90% mortgage over 24.5 years ....I,m 50
Dont intend to take that long to pay it off so will be overpaying