As one gets older, one can hit various problems with mortgages. The older you get, usually the more difficult it is to take out a mortgage. One of the common problems we are often asked to assist with is interest-only mortgages – particularly those reaching the end of their term. Ultimately one can sell their property and downsize or go into rented accommodation, but as one gets older it becomes more and more undesirable to leave the home and area one has lived in for so long and which have become such an important part of their lives. Another option is to seek advice from an independent mortgage broker such as ourselves, as there are a number of niche lenders who provide special terms for older borrowers.
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