Change in Mortgage for Retired Person

RickyVirdi

I currently have joint mortgage with my son. after marriage, he has decided to live by himself and be detach from the mortgage. At the same time, I have commenced retirement by taking a package. My current low mortgage rate (until June 2026) is something I wish to retain. The current provider is hesitating to provide me with mortgage although I have shown an income from my pension.
Its complicated and would be great to talk with someone.
What can I do?

MWT

RickyVirdi said:

I currently have joint mortgage with my son. after marriage, he has decided to live by himself and be detach from the mortgage. At the same time, I have commenced retirement by taking a package. My current low mortgage rate (until June 2026) is something I wish to retain. The current provider is hesitating to provide me with mortgage although I have shown an income from my pension.
Its complicated and would be great to talk with someone.
What can I do?

Talk to a good broker who covers both 'normal' mortgages but also retirement products and be prepared to pay for their services, so not one of the many 'free' online brokers.

In general though you are going to have to pass the lenders affordability criteria if you want to take the mortgage on your own to release your son, a broker will help you understand if that is possible given your current and future income.