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Will I struggle to get a mortgage ??
Tickeross
Posts: 5 Forumite
I have posted some time ago but lost my sign-in details. :mad:
Anyway hope someone can advise.
I'm 50 years old. Self employed last 18 years. Property price @£200K - 210K. Would be able to put down @£70K deposit. Would like a mortgage over 25 years, bearing in mind I'll be 75 by then, but I should be able to pay it off early. Would it be easy to get a self certified deal on the above numbers ??
Thanks a lot.
Anyway hope someone can advise.
I'm 50 years old. Self employed last 18 years. Property price @£200K - 210K. Would be able to put down @£70K deposit. Would like a mortgage over 25 years, bearing in mind I'll be 75 by then, but I should be able to pay it off early. Would it be easy to get a self certified deal on the above numbers ??
Thanks a lot.
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Comments
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i dont think you will have a problem, go and see a whole of market broker so he can find out who is most likely to go with it. assume the biz figs are good.0
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What are your plans once you are 65?0
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UK007BullDog wrote: »What are your plans once you are 65?
Providing I stay healthy I can contiue to work, no problem.
Thanks for input.0 -
If you have been self employed for 18 years you must have some kind of accounts.
If that is the case, you do not have to get a self certified mortgage - just a normal high street deal
As long as your income is high enough to support that kind of mortgage you will be fine
Just remember as bulldog was pointing out that some lenders will not go over age 65, and some that do will want to see proof of some kind of income post normal retiremenmt ageI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage 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.0 -
If you have been self employed for 18 years you must have some kind of accounts.
If that is the case, you do not have to get a self certified mortgage - just a normal high street deal
As long as your income is high enough to support that kind of mortgage you will be fine
Just remember as bulldog was pointing out that some lenders will not go over age 65, and some that do will want to see proof of some kind of income post normal retiremenmt age
The accounts are OK, but would only allow me to borrow @105K and I'll need @125K0 -
The accounts are OK, but would only allow me to borrow @105K and I'll need @125K
Why is that the case? What income multiples are you using?
Some lenders are more flexible with income multiples/affodability calculators due to the size of deposit you haveI am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage 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.0
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