Mortgage over 50...

[NewEP]

Asking for advice on behalf of my father. He is a doctor and is looking to take out a mortgage on a property. I believe he has a hefty deposit to put down (I don't ask how much) but know he is worried he will not be given a mortgage because he is in his 50s, or that the repayments will be enormous because of his age...

Anyone have any experience of getting a mortgage over the age of 50?

We just got a 95% mortgage approaching 400K (late first time buyers). We have to pay over a shorter time, so payments are much higher than if we could pay over 25 years, but otherwise no problem.

Sorry - we were 47 and 53 taking it out.

All sounds extremely positive. I'm really hoping this comes good for him.

And congrats on everyone's mortgages!

Late reply, sorry. It was £50k with Halifax.

If he can afford the repayments he should be fine - I agree with thr PP who said to use a broker - they will know which lenders have higher or no upper age limit. I work for a mortgage lender and without seeing his case it sounds like we would probably accept him.

My mum had to get one out at 50 after she and my dad divorced. She still had me living at home and my brother coming back from uni in the holidays so she needed a 3 bedroom house.
It was quite high interest but she managed to pay it off by herself over 15 year and that finished last year.