Can I get a 20-year mortgage when I’m due to retire in 17 years?
I can afford a 17-year loan, but as a super-cautious person I’d prefer a slight reduction in monthly outgoings
Q I am expecting to buy a small flat, for between £90,000 and £120,000 with a deposit of 15% – just before my 50th birthday. I will retire at 67.
Although I can comfortably afford the payments of a 17-year mortgage, as a super-cautious person, I would prefer a slight reduction in the monthly outgoings of a 20-year mortgage. I like to save and have a good amount of emergency money.