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Mortgage at 70

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Billybach Sat 11-Jan-20 14:46:56

I'm 64, my partner is 69
We own our house jointly
Our mortgage is end of term later this year but we want to extend it
The current lender will not lend "past 70" ie to my partner, even though I am the principal source of income
Is it possible to transfer her property share to give me 100% ownership?
Or should this to to our working kids?
Or is there some other option?

Many thanks

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WOODMOUSE49 Sun 16-Feb-20 23:52:54

Never heard of transferring a mortgage to children? confused

Thinking about moving elsewhere for a mortgage. You will get new terms (chance to extend the period - yes)

We got a new 10 yr mortgage with Ecology BS for our self build project.

I was 69 and DH was 70 when we took it out jointly. We jointly own our present cottage we live in whilst building the house.

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M0nica Mon 17-Feb-20 09:03:18

There are lots of mortgages available now for over 70s and Over 80s - and not just equity release

Follow this link www.money.co.uk/mortgages/mortgages-for-over-70s.htm

Just switch your mortgage supplier. Lots of people do this when short term mortgage deals expire.

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Fennel Mon 17-Feb-20 12:24:32

We were in the same position a few years ago, BillyBach, but a good few years older.
We changed our small mortgage from Alliance to Halifax who offered a 'Retirement Mortgage' . To be paid off on death of the last owner. Could also have got one from Northern Rock (who went out of business?)
I would think it would be legally possible to change a mortgage to children, not sure. Ask a solicitor.

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