Mother and Son Joint Mortgage

Posted on 24 May 2012 by Steve

As part of a settlement for divorce my mother was given the matrimonial home on the basis that i join the mortgage to help her with repayments. She is 58 and i am 25, is it possible to take out a 25 year mortgage (in order to have low monthly repayments) despite her only having 8 years until retirement?


In theory this is possible as I am aware of at least one lender who will base the maximum term on the youngest applicant.  In practice I am not so sure that they will accept an application if you are not living in the property with your Mother.

Any application will be assessed for affordability and you will have to be able to cover any existing mortgage payments alongside those of your Mother's mortgage.  If it is necessary to in to account any of your Mother's income, the maximum term will be determined by her age.

There are lenders who will lend into retirement and the usual maximum age is 75 and it may be possible to persuade one of these to accept the risk.  The problem if you are not living in the property is that should you fall out with your Mother for any reason, there is not as much incentive for you to keep paying the mortgage.  Repossessing the home of an elderly lady does not make good press and lenders would rather avoid this if at all possible.

However, I believe we can help you and that you would benefit from speaking to one of our independent mortgage advisers.  Please call 0344 346 3672 and tell the consultant the date and title of your question, they will then be able to help you find the right mortgage lender.


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.

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