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Own my home but want to upsize
GameChanger
Posts: 4 Newbie
What options do we have? We own our home with no mortgage and no loans of any kind. We want to move to a more expensive house and need 50-80k to do this. We are age 52 & 47 with dependants and school fees. Would
we be able to get a mortgage?
we be able to get a mortgage?
0
Comments
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What's your income?
Permanent or temporary jobs?
Employed or self-employed?
How much are the school fees?
Any credit cards or other credit?Mortgage started 2020, aiming to clear 31/12/2029.0 -
No debts or credit card debt.
Own our own company been trading 7 yrs.
Dividends 70k0 -
Not to put you off moving, just offering other ideas.
If your current house allows, have you thought about having an extension built? Offers many advantages over moving house.0 -
Thank you but we’ve already utilised those options0
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Why do you think you wouldn't get a mortgage?0
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Age mainly! And not sure I what we’d be classified as? Would it be a. Traditional mortgage? We’ve not had a mortgages for 6 years.0
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You would be looking for a traditional mortgage to be repaid prior to your retirement or further if you have a prove able pension income
As long as you have an income surplus to your expenditure then I'm sure you will be fine.
Get a recommendation from a broker and see what options are available. Your age isn't that old for a mortgage, I've just done one for a 64 year old on a 15 year term!0 -
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