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62yrs old & in full time employment. Can I mortgage my home?

Posted on 14 March 2013 by Hilary


I am 62yrs old in full time employment I would like to know if I can mortgage my home?

Hilary,

Age in itself won't stop you from getting a mortgage, however lenders have different maximum ages they willl lend upto and this can therefore affect the way they look at your ability to afford the loan. They will also usually want to know how you will continue to meet the payments if the term goes past your intended retirement date.

The Loan To Value (LTV) will also play a part, and the lower the LTV the easier it will be to find a lender who can help you.

If you'd like to discuss how best we may be able to assist you, then please let me know and I'll arrange a convenient time for one of our consultants to contact you.

Regards,

Simon

simon.collins@johncharcol.co.uk

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Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.


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