Mortgage with Retirement

berkshiregaz

Happy New Year everyone. A quick question, I currently have a small mortgage around 40k with 20k debt in a "reserve facility" with a key worker loan. I am being Ill Health retired, likely at end of February. Although I will get a lump sum A large chunk of this will be taken up by paying off the keyworker loan (as it is a second charge on house and needs to be repaid on retirement)
I have a personal loan. Ive worked out I will be able to pay off the keyworker loan and some of Mortgage but will probably have some mortage left. My monthly pension will be a fair bit lower than my current Take Home.
Are there companies that will take a guaranteed Pension as income if I were to ask to remortgage whats left over say 10 years to keep my monthly expenses lower and well within the amount I will get as my monthly pension payment. Multiples wise it would be within 3x
Many Thanks for any ideas

Clueless56

Do you have a defined benefit pension or defined contribution pension?  I mainly have DB pensions and had no trouble getting a mortgage with a term ending when I reach 75 because I could prove what my income will be in retirement.  My mortgage is with Leeds BS.  

You may be better asking one of the mortgage brokers that post on the forum.   There's a thread called 'Mortgage Broker - ask me anything'.

berkshiregaz

Clueless56 said:

Do you have a defined benefit pension or defined contribution pension?  I mainly have DB pensions and had no trouble getting a mortgage with a term ending when I reach 75 because I could prove what my income will be in retirement.  My mortgage is with Leeds BS.  

You may be better asking one of the mortgage brokers that post on the forum.   There's a thread called 'Mortgage Broker - ask me anything'.

Thats brilliant Thanks Im defined Benefit so thats given me a bit less worry Thanks for advice