Longest term for age 54

Baking_Mad

Hi all,

Looking for a bit of advice on what longest term mortgages are currently available on the market.

Essentially looking to bring monthly payments to as low as possible for the next year or two after which point will be repaying mortgage in full (will have lump sums coming in).

Current age 54. Would also consider interest only if these even exist these days?

Many thanks in advance.

ACG

A lot depends on the LTV and your job.

If you are a builder looking for 90% then you are probably looking at a max of 20 years on repayment.

If you are at 60% LTV working in an office then 30 years could be feasible on interest only (although from a monthly repayments basis on interest only it doesnt really matter if it is 10 years or 30 years as they will be the same).

Baking_Mad

https://forums.moneysavingexpert.com/discussion/comment/81962267#Comment_81962267

LTV will probably be in the region of 69%. Office job with good annual bonuses. Can you recommend any specific companies we should look at please?

ACG

I dont think we are allowed to.

Probably worth having a chat with a broker. I dont think your requirements are complicated unless you go down the interest only route, but a broker can just research it all and put your options infront of you. It will save you a lot of time and headache.