We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Mortgage advice for aged difference couple
AntelopeRaindropTulip
Posts: 2 Newbie
Hello, my partner and I having been looking into mortgages but keep coming up against the same issue. I am 35 and he is 55. Which means it dramatically reduced the amount we can get because they want to treat us both against his lower years to loan ration. Any help or advice? At the moment it's looking like we will not be able to buy a house and will have to continue to rent.
0
Comments
-
How much deposit did you manage to put aside? Did you use a mortgage broker?
We were 45 and 50 when we purchased our first home although the mortgage term is 24 years (rather than the standard 25 years).0 -
We have a combined deposit of 60k. So far I have only spoken directly with my bank in relation to the mortgage. I've not ever had one before so thought the years would be combine not both limited to the shortest term.0
-
Speak to L&C - you need some advice. Every bank has different requirements.I am a Protection Adviser. You should note that this site doesn't check my status as a Protection 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.0
-
+1 to speaking to L&C. In case you haven't seen, these guides were helpful for us:
- https://www.moneysavingexpert.com/mortgages/mortgage-guide/
- https://www.moneysavingexpert.com/mortgages/best-mortgages-cashback/
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards