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Mortgage term past retirement age

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Comments

  • MovingForwards
    MovingForwards Posts: 17,150 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    gabby71 said:
    This was interesting to me, I’m a first time buyer at 48! Unfortunately Covid has put everything on hold at present, hoping to buy the house I currently rent!

    Don't be daunted! It's well worth it 😁  
    Mortgage started 2020, aiming to clear 31/12/2029.
  • Sncjw
    Sncjw Posts: 3,567 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    You don't hVe to get a 25 year mortgage. We were looking at that but the mortgage payments were within budget on 20 years so we went with that plus mean total amount paid is less. 
    Mortgage free wannabe 

    Actual mortgage stating amount £75,150

    Overpayment paused to pay off cc 

    Starting balance £66,565.45

    Current balance £58,108

    Cc around 8k. 

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