Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

    • westv
    • By westv 4th Aug 18, 9:28 AM
    • 4,719Posts
    • 2,302Thanks
    Mortgages after Retirement.
    • #1
    • 4th Aug 18, 9:28 AM
    Mortgages after Retirement. 4th Aug 18 at 9:28 AM
    It appears that interest rates may stay low for some time.

    I expect most people's mortgages will be paid off prior to retirement but do many here plan to keep running one on the expectation/hope that investment returns will exceed the mortgage interest over the long term?

    It was something I had considered but we are probably going to move after I retire and I understand mortgages and drawdown don't mix ie lenders don't generally take account of drawdown income.
Page 3
    • MoneyGeoff
    • By MoneyGeoff 6th Aug 18, 9:00 AM
    • 171 Posts
    • 120 Thanks
    I had a quick look at RIO mortgages. The market looks very limited.
    Originally posted by westv
    They are new because the FCA recently relaxed the rules. The market will open up over time.
    • downshifter98
    • By downshifter98 6th Aug 18, 2:13 PM
    • 375 Posts
    • 271 Thanks
    For me it purely comes down to the maths; next year I will be able to take my pensions (at 55) but well aware that they will be discounted by 5% pa (over inflation) for taking them early - therefore I'm happy to borrow instead if the cost is sub 5% with the aim of repaying (probably) at age 60 when the pensions are at full value. To this end I'm currently owing 38t on credit cards at an annual rate of 1.45% - I'm currently mortgage free but will definitely keep an eye on the RIO mortgages if needed.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

66Posts Today

2,355Users online

Martin's Twitter
  • 10 ways you should act now to beat April bill shocks - council tax UP, stamp prices UP, TV licence UP, energy bills?

  • I have a confession to make... I think I now prefer Young Sheldon to The Big Bang Theory (or at least to the recent series). Am I alone?

  • RT @TDHPhotography: Thank you @MartinSLewis After seeing your show on Council tax exemption for severe mental disorders, after a brief batt?

  • Follow Martin