A lot of landlords worry about their age

Let’s look at an example: 

 

Bob, is now 80, he wants to remortgage one of his BTL property for another 20 years. 

He's been on the phone for days talking to people like Santander who want him to go back in time and finish his 20 year mortgage at 85. 

 

He then gets in touch with us, we have a chat and look into a few options depending on his circumstances as per any mortgage, after research we find a smaller lender such as Bath building society who have no maximum age limit at application or at the end of the mortgage. All they need to know is that his affordability will continue into retirement. With Bob's portfolio of property being managed by his son, he can continue the same income until he really feels that its time to give up. 

Bob has just snagged himself a remortgage for 20 years at 3.10%. 

 

Obviously this is a made up example and I would like to apologise to any Bob's out there who may have been offended, but I just wanted to highlight that one of the joys of my job is being able to find a 'fix' for nearly every issue I come up against. With access to all of the lenders out there, someone will be able to help, sometimes even bending their criteria to do so. It is just a case of knowing where to look and researching thoroughly. 

 

Moral of this short story? Don't worry about the little things, age is just a number and we are the problem solvers. 

 

What other things do you find become a bit of a snag when looking for a mortgage apart from age? 

 

If this is of interest to you and you’d like a no obligation informal conversation with a qualified advisor, please get in touch with me on 07500 871209 or email austyn@hdconsultants.net