Mortgage in your 50's beyond retirement

[Jas683]

Hi.

Probably should post in a financial forum but has anyone managed to get a mortgage late on in life which go on beyond their retirement?

Yes I’ve got one til I'm 85.

Sadly.

I do a lot of benefit check for older people and have been very surprised by how many people go into retirement with often large mortgages, so it must be possible. Not sure if they would want evidence of projected private pensions, or would there be the option to downsize later?

Thanks for your reply, this could be me hopefully.

My parents last year when they were 74 lasts till they both die I believe.

Thanks 👍

Was told by our mortgage advisor that the most common age for mortgage to end is now 70.
We are early 50s and just remortgaged til we are 70, not ideal but needs must and hopefully we will pay it off sooner.
Good luck

I got one until I am 69.

I’m on a 6 figure salary, have a BTL property portfolio (which provides an income) plus a couple of hood pensions.

I had to prove (with the pensions & BTL income I could afford the repayments after retirement age.

@Greensleevevssnotnose I know this is a very old thread but did they manage to get a new mortgage when they were 74?

Mine does thanks to divorce.

I’m hoping to repay it more quickly.