Meet the Other Phone. Protection built in.

Meet the Other Phone.
Protection built in.

Buy now

Please or to access all these features

Money matters

Find financial and money-saving discussions including debt and pension chat on our Money forum. If you're looking for ways to make your money to go further, sign up to our Moneysaver emails here.

How long a term can I get a mortgage for?

9 replies

FatAntelope · 12/11/2022 10:45

Selling house as splitting up with husband. I'm trying to work out what I can afford on my own. How long of a term can my mortgage be?
Thanks

OP posts:
ApolloandDaphne · 12/11/2022 10:47

I think 70 is the cut off age so however long it is up to then?

SeptemberSon · 12/11/2022 10:51

Yes, we got one to 70 recently to bring the payments down as much as possible.

UserNameNameNameUser · 12/11/2022 10:52

ApolloandDaphne · 12/11/2022 10:47

I think 70 is the cut off age so however long it is up to then?

I’m not sure that’s the case as my in laws have a mortgage and they are late 70s.

Following with interest though. I am nearly 50 and about to move house. Would like to get a 25 year mortgage, but with a view to remortgaging in 5 years time on a shorter term and paying off some capital at the same time (anticipated sale of another property). So the “25 years” is just to have lower payments in the interim. Am seeing a financial adviser next week but interested in the general principles of the thing.

ApolloandDaphne · 12/11/2022 11:03

I say that as my DH is going to go on my DDs mortgage to allow her to keep her house after she split with her partner and her provider will only give a mortgage until he is 70.

Jmaho · 12/11/2022 11:08

I work for a bank in mortgages. Our max age on a residential mortgage is 75 but it would depend on how old you are now, the age you state you will retire at and whether you have a pension or not

Cookerhood · 12/11/2022 11:09

We are guarantors (not called that now - Joint borrower, sole beneficiary) for our DS's mortgage & it allowed him to get a mortgage term until we were 75.

seekingasimplelife · 12/11/2022 12:32

For life if you want to.

PassTheLetter · 12/11/2022 12:38

I'm 55 and was offered a mortgage to age 75 last month, my current mortgage runs until I'm 70 and the extra mortgage length allowed me to keep the payments the same when my fix runs out or pay £300 a month extra on a new 5 year fix on the mortgage that runs until 70.

ZnJSmith1402 · 12/11/2022 16:11

This reply has been deleted

Message deleted by MNHQ. Here's a link to our Talk Guidelines.

New posts on this thread. Refresh page
Swipe left for the next trending thread