| Do Remortgages really exist? |
|
|
|
|
|
BML
New Member
Cash: $ 1.10
Posts: 5
Joined: 28 Jul 2004
Location: Abingdon area Oxfordshire
|
| Do Remortgages really exist? |
 |
|
I am 75 have no debt and would like to build an extension so last week I saw number of organisations offering Remortages and I telephoned one.
I told them that I was 75, had no debt, owned a property, had a good pension and wanted to borrow £30,000.00 to build an extension.
The answer was unequivocally NO because I am 75 and I was advised to ask an IFA to look for one on my behalf which bearing in mind all of the advertisements offering mortgages appeared stupid to me.
I would welcome any advice and comments.
|
Thu Nov 10, 2011 8:06 pm |
|
|
oldguy
Senior Member
Cash: $ 309.10
Posts: 1480
Joined: 21 May 2006
Location: arizona
|
A remortgage is usually associated with bad credit. That doesn't appear to by your situation - why not just apply for a regular mortgage?
You mentioned age, I doubt that your age is a problem, I have refinanced rental houses after I retired, no problems with th e qualifying (I'm age 72).
|
|
Thu Nov 10, 2011 8:39 pm |
|
|
BML
New Member
Cash: $ 1.10
Posts: 5
Joined: 28 Jul 2004
Location: Abingdon area Oxfordshire
|
Many thanks, as someone who does not deal in this sort of thing I thought that it would have to be a remortgage but I will have a go at a straight mortgage.
I contacted Yorkshire BS as a result of seeing their name under the Remortages list in my newspaper and the person I spoke to definitively said I would not get one at my age.
|
|
Thu Nov 10, 2011 9:48 pm |
|
|
|
