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I'm nearly 50 can I get a mortgage over 15 years?

Posted on 18 September 2014 by Tracey


I'm nearly 50 can I get a mortgage over 15 yrs?

Tracey,

The short answer is that 'yes' you should be able to get a mortgage over 15 years. The question is how much could we get for you ?

Back in April the Financial Conduct Authority implemented its Mortgage Market Review (MMR), which changed the way lenders look at cases and moved them to assess cases on an affordability basis, including a stress test over the term of the loan. The lender would also want to know when you intend to retire, and if that date is before the end of the mortgage term, then they would also need to know what pension income you are likely to have, to carry on supporting the loan.

If you'd like to explore 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 can help you.

Regards,

Simon

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