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Mortgage in your 50s

3 replies

Pollyochre · 08/10/2023 11:13

I wondered if anyone here had experience of getting their first mortgage in their 50s? I will be inheriting some money (I don't know how much yet but in region of £150k). Wondering if we could use it as, eg, a 50% deposit on a property. Anyone have experience of anything similar? Was a mortgage difficult to get and how long was the mortgage for?

OP posts:
Fourmagpies · 08/10/2023 12:20

It depends on lots of things, like your current income and expenditure but it is possible. I'm remortgaging soon as divorced, early 50s and our mortgage provider were happy to lend up to retirement age, though there are some that do beyond retirement age.

Pollyochre · 08/10/2023 17:53

Thanks @Fourmagpies

OP posts:
Peppermint81 · 08/10/2023 18:01

You can get a first mortgage in your 50s, it will be until retirement age so spread over 15 years ish?
Lots of mortgage checkers online so you could see what your monthly payment for the rest of it will be

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