I'm 68 years old, can I get a mortgage?

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Posted on 13 February 2013

I want a 10year mortage for £12,000 & I am 68. Is this possible at my age?


Most lenders have a minimum loan size of around £25,000 so you would be below this limit, and with your age as well, it isn't a likely prospect.

However there are a couple of other options to consider. You could look at an unsecured loan for the £12,000, and the best provider would usually be your own bank. Alternatively we could look at Equity Release. This market has changed over the past couple of years, and depending on teh value of your property, could be the best way forward.

If you'd like to have an initial discussion with one of our consultants, then please let me know, and I'll arrange a convenient time to speak to one.




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Categories: Mortgages in retirement, Equity release

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Our charges are based on two considerations: the loan amount and the complexity of your individual circumstances. We will provide you with a free initial consultation and we will always explain exactly what you will be charged before you choose to  proceed with an application. As we offer a bespoke service our charges can vary. Our minimum fee is £495, (of which a non-refundable £150 is payable when you make a formal mortgage application). The average fee paid by our clients over the last year was 0.24% of their loan value. (For example, if your loan amount is £300,000 our average fee would be £720). If your circumstances are more complex we may charge a higher fee. Our maximum fee is 1.5% of the loan value. (For example, if your loan amount is £300,000, our maximum fee will be £4,500).

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