Brokers for over 50?

TwoYearToMove

I'm currently 53 (self employed author/game developer), and planning to go for a mortgage in 2027, when I'll be 55. I know specific brokers are not allowed to be recommended, but are there brokers that specialize in mortgages for over 50s? including for self employed over 50? I just wondered if that was a thing or not, or it's just included in general broker's work.

Emmia

TwoYearToMove said:

I'm currently 53 (self employed author/game developer), and planning to go for a mortgage in 2027, when I'll be 55. I know specific brokers are not allowed to be recommended, but are there brokers that specialize in mortgages for over 50s? including for self employed over 50? I just wondered if that was a thing or not, or it's just included in general broker's work.

Do you actually need another mortgage (borrowing more, changing the term, lender), or just a new fix that you can probably do yourself with the lender, online, and doesn't involve documentation checks etc.

amnblog

General work

MyRealNameToo

TwoYearToMove said:

I'm currently 53 (self employed author/game developer), and planning to go for a mortgage in 2027, when I'll be 55. I know specific brokers are not allowed to be recommended, but are there brokers that specialize in mortgages for over 50s? including for self employed over 50? I just wondered if that was a thing or not, or it's just included in general broker's work.

What's more important is the age you are going to be when the mortgage is due to be paid off. If you'll be below normal retirement age then there is nothing special about being a 55 year old applicant. If you are wanting the mortgage to go into your 70s then it's a bit more tricky. 

TwoYearToMove

Emmia said:

TwoYearToMove said:

I'm currently 53 (self employed author/game developer), and planning to go for a mortgage in 2027, when I'll be 55. I know specific brokers are not allowed to be recommended, but are there brokers that specialize in mortgages for over 50s? including for self employed over 50? I just wondered if that was a thing or not, or it's just included in general broker's work.

Do you actually need another mortgage (borrowing more, changing the term, lender), or just a new fix that you can probably do yourself with the lender, online, and doesn't involve documentation checks etc.

I don't understand your question? I will want to apply for a mortgage on a house. I'll be a first time buyer.

TwoYearToMove

MyRealNameToo said:

TwoYearToMove said:

I'm currently 53 (self employed author/game developer), and planning to go for a mortgage in 2027, when I'll be 55. I know specific brokers are not allowed to be recommended, but are there brokers that specialize in mortgages for over 50s? including for self employed over 50? I just wondered if that was a thing or not, or it's just included in general broker's work.

What's more important is the age you are going to be when the mortgage is due to be paid off. If you'll be below normal retirement age then there is nothing special about being a 55 year old applicant. If you are wanting the mortgage to go into your 70s then it's a bit more tricky. 

It will need to be over retirement age, otherwise the likely monthly repayment will be over the 28% debt to income threshold. But I just wondered if there are brokers that specialize in mortgages for over 50s.

Bigphil1474

I'm 54, we just applied to our bank when we got a mortgage last year , approved in 5 minutes. We were low LTV though. I think if you are wanting to mortgage until you are past retirement age, you'd be better with a broker. Don't think you need a special one though. We took out a 14 year mortgage last year to take me to 67, but we're overpaying anyway so should cut that by 4 years. 

Emmia

TwoYearToMove said:

Emmia said:

TwoYearToMove said:

I'm currently 53 (self employed author/game developer), and planning to go for a mortgage in 2027, when I'll be 55. I know specific brokers are not allowed to be recommended, but are there brokers that specialize in mortgages for over 50s? including for self employed over 50? I just wondered if that was a thing or not, or it's just included in general broker's work.

Do you actually need another mortgage (borrowing more, changing the term, lender), or just a new fix that you can probably do yourself with the lender, online, and doesn't involve documentation checks etc.

I don't understand your question? I will want to apply for a mortgage on a house. I'll be a first time buyer.

Your original post wasn't clear that you were purchasing, rather than renewing your rate. I obviously made an incorrect assumption.