Will age stop us getting a mortgage? | Money | guardian.co.uk
Q I am 38 and my partner is 51. We have never owned our own home for various reasons, but would now like to buy a place. However, it seems likely we won't be able to get a longer mortgage because of my partner's age, yet we couldn't afford to pay a mortgage over a shorter term of, say, 15 years as it would be too expensive.
Are there any options open to us? I have considered buying on my own in order to secure a full 25-year mortgage, but then I wouldn't be able to borrow enough on my income alone. I work four days a week and earn £27,000 (my full-time salary is about £33,000) and my partner earns £36,000. We have a £25,000 deposit. We also have a son and would like another baby, hence wanting some security.
Is there anything we can do, or is the prospect of owning our own home effectively closed to us ?
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