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Original poster

Can you get a mortgage with Parkinson's Disease?

14 replies

pontipinemum · 31/05/2024 10:45

Does anyone know if there is any hope of getting a mortgage is you have Parkinson?

My mam was hoping to buy a house this year, although to say she has dragged her heels would be the biggest understatement ever!!!

She is in hospital right now a few days ago we were told they strongly suspect Parkinson's but that a scan in a few weeks time will be needed for confirmation. But they are pretty confident it is, she met with who is supposed to be an excellent consultant.

I know I am probably cold and shouldn't be thinking of practicalities but that's what I am like. I have cried plenty over the implications for her and her life. Along with me and my life and that of my children, one due in a few weeks.

I am so worried about her housing situation, I have been for a long time. I've been trying to convince her to buy for nearly a decade. But she'll always get around to it. Houses are still cheap where we are, although no where near as cheap as they were and a perfect one actually came up yesterday.

She's currently on a good salary but has high rent, circa €1,300 I think. A mortgage would be about the same and of course she would have other expenses. She's 57 so can only get a short mortgage but I'm not sure she can even get one now.

I just don't know what will happen when she can't work full time anymore. I know she can get HAP/ apply for council housing but not until she is below their thresholds. And who knows how long that will take.

OP posts:

stayathomegardener · 31/05/2024 20:11

That's a good question , I'm under the impression mortgage companies cannot discriminate against someone with a disability or ill health as long as they pass the affordability criteria so for example it shouldn't be an issue for someone like my DH with manageable cancer.

That said one has to declare any potential changes in circumstances so I guess the question would be does a Parkinson's diagnosis affect your Mums future earning capacity?

SofaSpuds · 01/06/2024 09:23

That's a very tough situation, I'm sorry you're all going through that right now.
I'm not sure about the mortgage situation, but would suspect lenders might restrict on the term, especially given her age.
Also, don't forget about mortgage protection insurance, it's likely that'll be high given her age and diagnosis. You can't get a mortgage in Ireland without it.

Original poster

pontipinemum · 01/06/2024 16:36

@SofaSpuds it's the mortgage protection that I think will cause the issues. I was upset at my maternity clinic the other day and ended up chatting to a wonderful MW about it. She said to contact social services I might be able to talk to someone about what is/ will be open to her as this progresses.

I did say it to my mam about sending off her papers to the mortgage broker (the one she was meant to send things to months ago) but I'm thinking I probbaly shouldn't stress her out any more

OP posts:

SparkyBlue · 01/06/2024 18:47

I would imagine it would be very difficult to get mortgage protection insurance and she can't get the mortgage without the insurance. My dad has Parkinson's and my mil had it so I understand how difficult it is. What age is your mum? There are some social housing units that would be for people over a certain age

Original poster

pontipinemum · 01/06/2024 22:04

@SparkyBlue she's 57. Still works full time and I don't see any reason she shouldn't be able to continue her job. It's all speculative right now as we don't know the extent etc until further testing is done. I just find the vulnerability of her not owning a home very difficult. But this is not about me. It's about her.

She's always been a 'I'll get around to it' 'It will sort itself out' sort of person and TBF it sort of mostly has for her. She's not one for future planning

OP posts:

TheVeryThing · 02/06/2024 08:20

I know 2 people with MS who were unable to get insurance but still got a mortgage because the bank can’t discriminate, as mentioned. The need to get insurance is waived in these cases, as far as I know.
There is a lot to consider here. At 57, the monthly repayments could be very high, unless she has a huge deposit. If she is unable to work at any stage before the mortgage is paid off, where would that leave her?
I think your mother needs expert advice on this and she may not be in a place where she can deal with it right now.

Doveyouknow · 02/06/2024 08:23

Could she look at housing for over 55s? It's often a lot cheaper and might allow her to buy something outright.

Original poster

pontipinemum · 02/06/2024 11:02

@TheVeryThing That would be the big issue. If in 5 years time she needs to reduce her working hours. She won't be able to cover the mortgage. She has €25k saved and I am giving her €15k towards it. She can actually get a house were she lives for about €150k. But I will not be able to take over repayments if it came to that.

@Doveyouknow there is actually. I know we looked at it a few years ago. It's over 50s for the one in town. She said the waiting list is very long and she would 'get around to filling in the application' at the time she didnt' have as good of a job. I filled in all the paper work for her to go on the council house list. This also was not done

But I am starting to think that a mortgage may not be good idea after all. If she has to reduce her working hours she just will not be able to make repayments. No one can answer this for me but IDK what sort of options that will leave. Citizens advice said until she is in the position of needing HAP/ Housing she can't apply for anything.

But her current rented house is not suitable at all. Very steep stairs and there just isn't space downstairs for a bed. She has been sleeping on the couch, which isn't even comfy to sit on for a short time let alone sleep on

OP posts:

Original poster

pontipinemum · 02/06/2024 11:05

But I've just checked DAFT there is no where else in town to rent. Also they are even more expensive than what she is currently paying.

I only work 3 days a week. DH is a farmer and we have a toddler + baby on the way. I don't earn enough to get a mortgage unless I get a FT job. Mortgage payments would be considerably lower but she could give me what she is paying now in rent to save, then when she stops working just pay the mortgage from her pension, its €333. Which I don't really want to do. I love my life balance but is that selfish?

OP posts:

Soontobe60 · 02/06/2024 11:13

Sadly, things are not on her side. Her age means she wouldn’t qualify for a cheap rate and would be required to pay it back in a short time scale dependent on her state and private pension projections.So she will end up probably paying more for her mortgage than she does in rent. Also, she would not be eligible for support with her mortgage if she couldn’t pay it whereas she may well be eligible for support for her rent in the future. She might be able to get life insurance, but it would likely be prohibitively expensive.
One really important thing to remember is that if youre gifting her 15K, you may as well kiss goodbye to that money. Once she has her own house, if she needs care in later years, the full value of any equity in her home will be taken into consideration.

Mybestusername · 02/06/2024 11:20

Sorry to hear about your mum's diagnosis. I think she would find it difficult to get a mortgage under these circumstances. Have a look at Parkinson's UK for advice and info. https://www.parkinsons.org.uk/information-and-support/money-grants-and-benefits They have a helpline and forum where you may find people who have been in a similar situation.

Original poster

pontipinemum · 02/06/2024 11:21

@Soontobe60 I never expect to see the 15k again. That is a lot of money to me but if it gave her some security and a better chance at getting into a nursing home - for it all to be taken - that was fine with me.

OP posts:

mitogoshi · 02/06/2024 11:29

I'm not sure of the benefit system in Ireland but in the U.K. if you are unable to work, unless your mortgage is paid off you are actually better off renting as benefits pay rents but won't pay off your mortgage (there's a complicated loan system but it's not good). Get good medical advice on likely prognosis and speak to someone knowledgeable about benefits and care for progressive diseases for where you live if it's location dependent.

Original poster

pontipinemum · 02/06/2024 11:38

@mitogoshi in theory there should be good support here too and it would be great, but I hear of people waiting years to get a council house. However that would hopefully be better for someone who is medically vulnerable. She lives about 3 hour drive from me. So can say she has no family to move in with. Although I wouldn't see her homeless. But AFAIK she doesn't want to live where I live. It's a mid size town, about 8,000 residents so there should be facilities where she lives, I live in a very rural farming area with a small village near by.

She doesn't want to stop working, and that is a good thing. Like with some minor adjustments I don't see why she couldn't keep doing her job. She enjoys it too.

The worry I have is that 1 her current rented house is not suitable at all. Like size wise it's perfect just she already struggles with the stairs. As she doesn't own it we also cannot do any adjustments to it. Then 2 does she just wait until she does need assistance and pray it's quickly.

I think I need to step back a bit though and maybe let her sort it out herself? But this situation - the housing - is largely of her own making as harsh as that sounds. Of course it 100x is not her fault what so ever getting PD. It's just this is honestly what I have been fearing for the last few years and it's just happening sooner than I thought.

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