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£120k Interest Only Mortage At Age 68.

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Family friend with delusions of grandeur and over inflated sense of entitlement wants to purchase gaudy "executive lifestyle" trophy, four bed, three bathroom new build home for himself and wife. Life insurance is £100 p/m. The guy has a modest pension and works part time in Sainsbury's.

Crazy?

Crazy would be the lenders, could he even get this mortgage?

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Family friend with delusions of grandeur and over inflated sense of entitlement wants to purchase gaudy "executive lifestyle" trophy, four bed, three bathroom new build home for himself and wife. Life insurance is £100 p/m. The guy has a modest pension and works part time in Sainsbury's.

Crazy?

Not madness but genius.

At that age you'd be a fool to do anything other than interest only as chances are you'll be dead before you've paid it off.

As for inheritance I've already told my kids that if they have anything in their inheritance it will mean that I died sooner than I had planned to.

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As for inheritance I've already told my kids that if they have anything in their inheritance it will mean that I died sooner than I had planned to.

:lol:

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