hello,
my father (aged 66) would like to remortgage a mortgage in order to extend the loan term as the capital payments are quite high on his current mortgage which runs out in approx 4 years (age 70). his current lender will not extend his term.
his details are as follows:
rental income: 100,000
mortgage: 400,000
LTV across rental properties: 20 percent (worst case)
Age 66
so, he is in quite a good position financially but he is using other income to pay off the mortgage at present and ideally would like the rental properties to take care of their loan so to speak.
has anyone any experience of getting a mortgage with a lender with a term up to say age 75 or 80?
thanks,
rusty
my father (aged 66) would like to remortgage a mortgage in order to extend the loan term as the capital payments are quite high on his current mortgage which runs out in approx 4 years (age 70). his current lender will not extend his term.
his details are as follows:
rental income: 100,000
mortgage: 400,000
LTV across rental properties: 20 percent (worst case)
Age 66
so, he is in quite a good position financially but he is using other income to pay off the mortgage at present and ideally would like the rental properties to take care of their loan so to speak.
has anyone any experience of getting a mortgage with a lender with a term up to say age 75 or 80?
thanks,
rusty