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AndyHobbs
Guest
Can anyone suggest options for the following scenario:
Retired couple 60's living in own house -no mortgage with some surrounding land. Assets worth approx 1million. Cant get a mortgage because only a few years to go before the 70 age cut off by which mortgages have to be cleared. On current income could afford repayments on about 80-100,000 at interest rates of 4/5%, but banks etc. only interested in offering term loans and such like. Surely there must be some financial product out there which would offer something with mortgage like interest rates ????? Or maybe not.....
Retired couple 60's living in own house -no mortgage with some surrounding land. Assets worth approx 1million. Cant get a mortgage because only a few years to go before the 70 age cut off by which mortgages have to be cleared. On current income could afford repayments on about 80-100,000 at interest rates of 4/5%, but banks etc. only interested in offering term loans and such like. Surely there must be some financial product out there which would offer something with mortgage like interest rates ????? Or maybe not.....