Mortgage advice needed!!

[Halfwaymad]

Hi everyone. I’ve just signed in to Mumsnet to ask this question as I’m feeling a bit alone with it all. Me and husband have decided to live separately (I’m driving it) to see if that is the answer to saving our marriage. We want to buy another small property and that way if we decide we want to live with each other again in the future we can rent it out. I’m worried we won’t be able to get a 20 or 25 year mortgage though (I fear anything less will make the repayments too expensive) as he is 50 and I’m 47. We have a limited partnership and will probably never retire but all I’ve found on google is that mortgage companies won’t lend past 65. Can anyone advise me on whether I should give up on this idea? We have a good sized deposit. The alternative is to sell the family home causing huge disruption to kids, which neither of us want to do. Any thoughts very gratefully received. Thanks.

Perhaps I should have asked this in the Finance section?

We took out a 30 year mortgage last year when we were both aged 40. So a mortgage to age 70 is certainly possible. That was with nationwide and a nearly 50% deposit

It depends when you intend to retire. Some mainstream lenders will lend into retirement, up to 75 or even 80.

One of the things to bear in mind though is that the stamp duty surcharge of 3% on additional properties will apply - in case you hadn't factored that in

No I hadn’t factored that in. Good to know.

I won’t have a 50% deposit - more like 20%.

We had to sign something to say we had appropriate income past retirement age that's all