I'm 60 years old, can I get a mortgage to help me move and rent out my current home?

Posted on 8 July 2013 by Janis


I'm married age 60, and have a house with no morgage. I also have another which we rent out. I would like to know whether at my age would it be posible to get a morgage for £200,000 so I can buy a property to live in and rent out the home we are living in now?

Janis,

If age is your concern than the straight answer is – Yes, there  are lenders who could help. You already own a couple of properties on the background and you are also and experienced landlord.

What we need to look at next is income, level of personal debt and credit history as these will have significant weight in the lender’s decision.

We have a number of lenders who are quite experienced in similar situations and you may want to speak to our consultants to see whether if it may be cost-efficient to structure the loan between the new main residence and the investment property.

If you'd like to talk in more detail, then please let me know and I'll arrange for one of our consultants to contact you.

Regards,

Alistair

contact@johncharcol.co.uk

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