Mortgage for over 50's

[butterfield]

Have a 20 year mortgage taken out in 2004 when we were both 50 (couple) this is for one third value of house. Would like to extend the term of loan - make one or two enquiries with our own lender and one other - seems they want it paid off by upper age 70. Does anyone know if any lenders extend at our age ??

We will probably sell the house over the next few years and trade down but want to have lower repayments in the meantime.

Any information appreciated ??

 

[LDFerguson]

You won't find too many lenders readily agreeing to a mortgage that extends beyond age 70, but a possible alternative would be to get an interest-only loan for now.

Liam D. Ferguson
www.ferga.com