How can we remortgage when my husband is aged 62?
over 4 years in The guardian
We can’t find an affordable deal from a bank due to his age, despite having a lot of equity
Q My husband and I are stuck in a bit of a Catch-22. Since 2004 we’ve had an interest-only mortgage of £153,000. Our house is now worth about £303,000 so we have a large amount of equity. We want to swap to a repayment mortgage but we cannot find a mortgage we can afford because he is 62 (I am 51). The monthly repayments, based on the length of time he could pay a mortgage for, are just too high.
I earn enough to easily pay a repayment mortgage on my own, but no one will accept me as the sole mortgage-holder because my husband’s name is on our existing mortgage. This is despite me being the main earner and having an absolutely stellar credit history. Is there any way around this conundrum? JR Continue reading...
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