Aged 62 - looking to top-up/remortgage

G

ginso12

Guest
Can anybody tell me what is that longest term, any of the mortgage providers will offer someone aged 62 that has outstanding mortgage of 36k (on their home which is now rented out) and wants to top-up by 120k to buy property abroad (or remortgage for 156k).

Also do you know, how many times salary/income, each of the mortgage providers offer?

Many thanks
 
Probably until your projected retirement age ...

if that's 65 then you'll only get a max of 3 years.
 
Thanks PaddyBloggit

Individual has rental income - guaranteed for at least 5 years and plans to remain working until 70, he also has widowers pension. Would this make any difference.
 
You could contact a broker and ask them about a specialist mortgage product. Lender such as Start and Springboard lend up to a max age of 80 years.
 
Got new Mortgage from AIB a few years ago, to be paid off when I am 70.
 
Thanks for replies.

I will have a look at the Start and Springboard for further information on them but I believe they are charged at higher rates than traditional mortgage.

Did you get traditional annuity mortgage from AIB, kbie?

I am wondering if things might be different in this climate and what the requirements are/were for mortgage approval.

Any thoughts are appreciated.
Thanks
 
Yes Ginso 12, got standard variable mortgage then changed to LTV tracker after a couple of years when I discovered better rates were available.

No particular conditions were applied, but I was a customer of the bank for 30 years so maybe this helped. Also, I had a previous mortgage with them which was paid off. Had to sell first house, long story, and start over again.

Good luck with your endeavours
 
I see Start featured on the Irish Examiner today .... they were involved in some reposession judgments.
 
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