Can I get a mortgage into retirement?

Q I am currently coming to the end of the fixed-rate period for an interest-only mortgage provided by the Halifax in 2003, a year prior to my reaching state pension age. This is for £25,000. I also have £10,000 on a tracker repayment mortgage. My house is worth approximately £130,000 to 140,000 and my pension amounts to about £12,000 a year.

I would like to replace the interest-only mortgage with a repayment mortgage but the competitive mortgages I've looked at online have the condition that one needs to be below retirement age and the mortgage should not extend 10 years beyond retirement age. Where can I find one?

DS

A Some lenders do get a bit nervous about granting a mortgage which will extend into retirement so the best advice I can give you is to talk to the Halifax. Since you already have two mortgages with them that extend beyond your state retirement age, the Halifax is clearly already happy to lend to you in these circumstances.

Assuming that you want to pay both your mortgages off as quickly as possible (a good idea), the Halifax is also best placed to tell you which of their deals will help you to do this.

If you're looking to switch lenders because you're not happy with the Halifax, an alternative would be to discuss your particular mortgage requirements with an independent no-fee mortgage adviser such as London & Country (0800 953 0304).