mortgages for the older person

cazzybabe

I hope someone can help me with a couple of questions. my husband is 47 years old, he earns 33k pa and has an excellent credit rating, is it possible for him to have a 25 year mortgage term or would he only be able to go up to the age of 65?
i only work part time irregular hours so i cant really be included on a mortgage application.
The plan is to have a much larger property so we can downsize later when the children have left home and therefore pay off the mortgage before he even reaches 65.
So i need to know what the maximum term could be, how much we could borrow and what the repayments would be.
i know im asking a lot but i really need to know what is possible.
Thanking you in advance

Scott

I've seen plenty of cases where the applicant is older, but they are usually involved in business retention, so sticking with your current lender might be the best bet.

The age thing isn't an absolute end to being able to secure a mortgage. Plus, that still gives him around 18 years.

Try and see would probably be the best bet.

Ian_W

As a little bit of an older person than your old man, I do have an interest in stuff like that. We're currently with Coventry BS. The statement below is copied and pasted direct from their website T&Cs HERE.

" You are over 18 and will be no more than 85 years old at the end of the mortgage term. "

They're not always market leaders but they do frequently have good products, like fixed's that don't have redemption penalties and good capped rates. Probably other lenders, particularly mutuals, who will have similar age criteria - shop around.

POWER TO THE GREY PEOPLE I SAY!! :dance: