- Key issue:
- Age at end of loan term
- Case study:
- Civil Servant
- Date:
- 2004-04-06
- Mortgage amount:
- 100k
Outcome
Lenders flexible approach with high earners
Detail
Client qualified for investment mortgage with maximum term per standard conditions of 12 years .Lender happy to extend to 17 years in this instance on account of high earnings and excellent pension prospects. Lenders vary in their attitude to age at end of mortgage term .See our lenders area for details.Over time it is likely that all lenders will stretch to age 70 at end of term.Also worth noting that in cases where a guarantor is required ,lenders concentrate their attention on the principal borrowers age and not the age of the guarantor ,when assessing loan terms.
