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Pensioner mortgage

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  • Pensioner mortgage

    My parents wanted to remortgage their house to help me and my wife with a deposit for buying our first house. They are currently collecting pensions but do not have a mortgage my question is what rate would they expect to pay on the remortgage and would it be possible to get a loan as they are over 65

  • #2
    I think it's possible - but obviously it's something you'll need to do some comparison shopping over.

    The big thing to watch out for, though, is not simply the interest rate on repayments, but especially the arrangement fees for the mortgage - these have really been inflating recently, and some lower interest rate mortgages have disproportionately high fees associated with them.

    Anyway, hope that helps.

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    • #3
      Thanks for that I think you might be right on the fees I,ve been looking around I'm waiting on replies

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      • #4
        I think I would suggest trying their local bank where they do their checking accounts. At that age you would have better luck some place where you have done business for years and are well respected.

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