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Re-mortgage advise needed.
Weimy
Posts: 12 Forumite
Hi,
Our fixed term mortgage is due to end in June this year. Currently the value of my house is £320,000 and I need a mortgage of £90,000.
My wife is 53 and I am 50. In a few years time (hopefully 5) we are going to downsize and buy a property with no mortgage. At present we pay £700 a month on our mortgage.
Due to I'll health my wife is looking to give up work, so what I need advise with is when we change mortgages is it possible to take a mortgage out past retirement age?
As what we are looking to do is to get a £90,000 mortgage for the cheapest repayments possible and by saving on the repayments my wife can hopefully give up work.
Please can offer any advise on reducing monthly repayments on our mortgage?
Any advise given is much appreciated.
Our fixed term mortgage is due to end in June this year. Currently the value of my house is £320,000 and I need a mortgage of £90,000.
My wife is 53 and I am 50. In a few years time (hopefully 5) we are going to downsize and buy a property with no mortgage. At present we pay £700 a month on our mortgage.
Due to I'll health my wife is looking to give up work, so what I need advise with is when we change mortgages is it possible to take a mortgage out past retirement age?
As what we are looking to do is to get a £90,000 mortgage for the cheapest repayments possible and by saving on the repayments my wife can hopefully give up work.
Please can offer any advise on reducing monthly repayments on our mortgage?
Any advise given is much appreciated.
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