I'm 72 and want to buy a £400,000 house with a £150,000 mortgage. Are there any lenders who would help?

Posted on 24 October 2014 by Malcolm


I am 72 selling my apartment and want to buy a house for £400,000 with loan of £150,000. I have another property in the Seychelles fully paid for but don't want to sell for another 2 years. Currently working self employed contracts adviser in the oil business. Are there any banks or building societies who would consider in view of the changes implemented last year by the regulators.

Malcolm,

You are right to suspect that this isn't going to be the easiest case to place, however there are still some lenders in the market who will judge a case on its individual merits. These tend to be some of the smaller building societies who have significantly more underwriting flexibility, than the major high street lenders.

The rates aren't as cutting edge, but they are providing loans for those borrowers the high street is turning its back on.

If you'd like to talk about your options in more detail, then please contact one of our consultants on 0344 346 3672 and they'll be able to give you a better idea of how we may be able to help.

Regards,

Alistair

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