In the past people generally were expected to have paid off their mortgage by the time they reached the usual retirement ages then of 65 for men and 60 for women. Needs and expectations have changed with many men and women wanting or needing to have a mortgage extending beyond these ages. Generally lenders have grown more cautious about lending into “retirement”. However, there are lenders who will take a more enlightened view based on the borrowers ability to repay the mortgage. Recently we assisted a couple who were both aged 75 to raise a mortgage to purchase a property they wanted. If you have run into a problem with borrowing because of your age, do contact us and let us see if we can find a solution for you. Call us on 01342 313302.
No comments:
Post a Comment