Too Old for a Mortgage?

restart

Thought life was set for good when I moved in with a new partner a few years ago, it's all gone wrong and I'm having to move out. I'm 61 and appear to be starting again.
I'm just about to move in to rented at £650 a month I do worry how I will afford this in the future. I currently have a small business and struggle financially, I can see the future could be hard and any hopes of ever retiring are disappearing fast. I have previously had a mortgage but wondering should I head down that route again. Maybe I could afford a flat or cheap mobile home in a park somewhere. I could put down a deposit of about 25K. Question is, am I ever likely to get a mortgage at this age? Are there any other options for me?
Thoughts gratefully accepted.

Mortgage_Adviser

There are a few lenders who could potentially lend up to 80yo. So that's potentially 19 year term mortgage.

If your circumstances are right and your job is of a non manual nature, you don't need to borrow a lot you may stand a chance providing still there is sufficient income to support your applciation.

I have succesfully placed mortgages for the older people.

You won't be able to get a normal mortgage on a mobile home. I believe there may be firms that deal with mobile home finance but know nothing of that type of finance whatsoever.

notrouble

What pension provision do you have? What will it generate?

ElephantBoy57

I got my mortgage when I was 56, it is a 10 year mortgage, but it could have been longer.

Its just a question on whether the payments are affordable. I bought my council house, so the actual amount borrowed was only £35k. You need to think about borrow 3/4 x your income over 10 years. Is it affordable?