Mortgage past age 70

marcusjames

I am posting for a friend.


He is 55 and looking to buy a house with his partner (she is early 40s). He is currently not working but has equity in his current house that will mean a 30% LTV on the new property. The plan was for his girlfiend to get a mortgage for the 30%.


His current mortgage provider have only offered a 15 year mortgage to take him to 70. Apparently he needs to be on the mortgage and even though he's not working, the term would be based on his age. He is freelancing and work is very lumpy and not well paid. She earns enough to cover the 30% repayments but based on 25 years. The shorter term will put pressure on them (although I do appreciate that paying it off early has benefits etc).


Do anyone know of a workaround, perhaps a provider who would approve a mortgage past 70.


Many thanks

Nebulous2

Looks complicated. As always the advice on here will be to get a broker.

Nationwide do until 75th birthday, but that might still not be enough.

amnblog

Wrong Lender.

There is a simple solution with the right Lender.

Your friend should consult a Broker.