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New Mortgage at 45
nolastchance
Posts: 37 Forumite
My partner is 30 and I am 45, we are going to buy our first home together. As I am 45 will we only be able to get a 20 year term?
thanks in advance.
thanks in advance.
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Comments
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But you're so young!!! I'm sure you'll be able to get more than a 20 year term - you'll only be a young 65 in 20 years' time. And your partner even younger. Please don't tell me you think you are too old at 45.
I will be applying for a ten year mortgage next year with my daughter. She will be 43 and I'll be 72. We have been told that there's no reason that we will not be considered.
Good luck! But you won't need it. As long as your finances are good, I'm sure you'll both be fine.
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nolastchance said:My partner is 30 and I am 45, we are going to buy our first home together. As I am 45 will we only be able to get a 20 year term?
thanks in advance.@nolastchance Most lenders will go up to the earlier of your anticipated retirement age or 70, so giving you potentially a term of 24 years. Depending on the specifics, if you intend to work beyond that, some lenders will consider up to 75 as well, so 29 years. This is all based on employed income.I am a Mortgage Adviser - You should note that this site doesn't check my status as a mortgage adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
PLEASE DO NOT SEND PMs asking for one-to-one-advice, or representation.
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