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The property expert on the JEREMY VINE show today although VERY bearish said that it will be very difficult for anyone over the age of 50 to get a mortage even after house prices have fallen.

My Mum got a mortgage (many years ago now) when she was about 50, obviously she only had a short while to pay it off but shows is was possible.

My problem is by the time this CRASH has played out (I would say worst of it will be over within 2 years) I will be knocking 50 (my partner is 50 now).

When he said this he scared me a bit.

Surely once things 'settle down' a bit it should be possible to buy as long as we have a good deposit.

What do you guys think?

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Guest KingCharles1st

Being in a roughly similar position- maybe the question ought to be- "Is there much point in getting a mortgage once you are past 50?"

I think that will keep me busy for hours on excel- and I have a nagging suspicion the answer is going to be no.

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I agree with KingCharles, you might be better using the money you have now to fund accomodation for your retirement rather than buying, It would only really be possible if you could reasonably pay the balance within ten years, which may be possible if the deposit is big enough and the property is cheap enough.

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The property expert on the JEREMY VINE show today although VERY bearish said that it will be very difficult for anyone over the age of 50 to get a mortage even after house prices have fallen.

My Mum got a mortgage (many years ago now) when she was about 50, obviously she only had a short while to pay it off but shows is was possible.

My problem is by the time this CRASH has played out (I would say worst of it will be over within 2 years) I will be knocking 50 (my partner is 50 now).

When he said this he scared me a bit.

Surely once things 'settle down' a bit it should be possible to buy as long as we have a good deposit.

What do you guys think?

I don't see that it would be a problem if you wanted to get a mortgage at 50. Lenders will look more closely at affordability into retirement if the term goes beyond 65. As a matter of policy though Abbey, for instance, allow lending up to age 85 and there's a general approach in the industry that you shouldn't discriminate on age alone, it's about affordability.

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Being in a roughly similar position- maybe the question ought to be- "Is there much point in getting a mortgage once you are past 50?"

I think that will keep me busy for hours on excel- and I have a nagging suspicion the answer is going to be no.

how sad to be a citizen of a country thats denied you your own family home for your entire life.

think. then they will come to tax you for your pension savings or any inheritances.

what was all the tax for you got to ask yourself.

a. others.

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Is there anything to stop you getting a mortgague where the term is 5, 10 or 15 years rather than 25?

No, my last mortgage was over a 20 year term and my lender (Nationwide) would have given me it over 10 or 15 if I wanted.

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The property expert on the JEREMY VINE show today although VERY bearish said that it will be very difficult for anyone over the age of 50 to get a mortage even after house prices have fallen.

My Mum got a mortgage (many years ago now) when she was about 50, obviously she only had a short while to pay it off but shows is was possible.

My problem is by the time this CRASH has played out (I would say worst of it will be over within 2 years) I will be knocking 50 (my partner is 50 now).

When he said this he scared me a bit.

Surely once things 'settle down' a bit it should be possible to buy as long as we have a good deposit.

What do you guys think?

Just keep saving that deposit.

You'll both be fine come 2012 when 60%- 70% has been wiped off the cost of an average home. :)

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I don't see that it would be a problem if you wanted to get a mortgage at 50. Lenders will look more closely at affordability into retirement if the term goes beyond 65. As a matter of policy though Abbey, for instance, allow lending up to age 85 and there's a general approach in the industry that you shouldn't discriminate on age alone, it's about affordability.

There's comprehensive UK legislation now covering age discrimination. This both acts as a barrier to prevent lenders discriminating on age, and actually removes any incentive for them to do so because the older employee is now shielded from excessive risk of redundancy.

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  • 395 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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