What is the oldest a person can apply for a mortgage i believe its 40 am i wrong?
can you get a 25yr term in the uk if you are over 40?
Answer
You can apply for a mortgage at any age depending on the term you require, and your ability to repay the loan when you retire (if the loan goes into current retirement age). the lender may allow you to extend beyond retirement if you have a nice guaranteed pension.if the lender wants the mortgage repaid by retirement age, then you can still apply for a mortgage but over a shorter term e.g. 15-20 years.
