Posted on 19 February 2013 by Mr Cartwright
tneed a £70k morgage for 2 years, I am 63 what would it cost?
I'm afraid there's not a simple single answer to your question. The cost of the mortgage depends on a number of variables, such as whether you opt to take an interest only loan, or repayment. The term you mention is also below the minimum term set by many lenders, and the way that lenders assess affordability on cases these days is on a repayment basis even if you are taking interest only. So a 2 year term may cause issues with lenders on affordabilty.
To get a better idea of the costs, then I would reccomend an initial discussion with one of our consultants. If you'd like to do so, please let me know and I'll arrange a convenient time for one of them to speak to you.
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