[tonyb]

Hi All,

i hope someone can answer my question.

Because of the way the exchange rate is at the moment and the possiblity that i may have to take a lower offer on my house in the UK i will probably need a slightly larger mortgage. I am 49 and my wife is 46. What i would like to know is what what would be the maximum repayment period i could expect. Would i be restricted to a 16 yrs mortgage which would take me up to the retirement age of 65 or would i be allowed a longer period.

Regards

Tony

[Angelonthemove]

Hi

I went into ASB Bank and they offered me a 30 year mortgage and we are 46 & 50 years old. They say age does not matter as they have the house equity if you fail to pay and most people move before they pay off the mortgage.

Hope that helps

[tonyb]

Hi Angela & Glen,

Thanks for your reply and for the information. I was hoping i could get a mortgage for longer than the years i have left at work and it makes sense that theres gonna be equity left IF i cant keep up the repayment, which is highly unlikely seeing that i will only be looking for about $100k max which wil prob be less than 25% of the total price. Its just nice to know that i can keep the repayments lower.

Thanks again.

Regards

Tony