Can I get a mortgage on my income?

Posted on 8 December 2007

Hi Katie, I am 49 and I bring home £1,200 a month. Can I get a mortgage?

Kevin

Hi Kevin,

Absolutely. Plenty of lenders will go to even 70 or 75 years old for a mortgage now, although you should get individual advice on how to structure the repayment terms so that it pays off a nice lot of debt, whilst still not taking up valuable pension income.
 
Bringing home £1,200 a month should let you borrow about £80,000-100,000, depending on other debts, and whether you have a deposit. I suggest that you do a review phone call with a mortgage advisor who will ask all the right questions and make some recommendations to you.

Category: First-time buyer

 

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