Call us on 0344 346 3672
or arrange a callback

I'm 70 years old, can I get a mortgage longer than 5 years?

Posted on 4 December 2012 by John Stanley


Can you get me an interest only mortgage (prefer offset) for ten years? At £150,000 it would only be about 26% loan to value. I have ample private income as well as pension income, to pay the monthly interest, but I will be 70 years old next month and most high street lenders seem to have adopted an ageism policy and will only lend up to age 75.

John,

From the details you've provided, this isn't the most straight forward of cases, especially if you are looking for an offset loan, however as John Charcol is an Independent, Whole of Market Broker, we also deal with those lenders who manually underwrite, and can therefore judge each case on it's merits, so I would be reasonably hopeful that we can help.

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

Regards,

Simon

simon.collins@johncharcol.co.uk

More than mortgages, talk to me about:
Financial Protection | Investments | Personal and Corporate Pensions | Home Insurance
General Insurance | Valuations | Conveyancing | Wills | Home finders

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.


Legal

YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT.

John Charcol is a trading name of John Charcol Limited and its Appointed Representatives. John Charcol Limited is authorised and regulated by the Financial Conduct Authority. The Financial Services Register number is 665649. Registered in England No. 9157892. Registered office address for John Charcol Limited is 5th Floor, Cutlers Exchange, 123 Houndsditch, London, EC3A 7BU. The FCA does not regulate some investment mortgage contracts. Calls may be recorded for training and monitoring.