Buying a flat at age 63?


M

Mick Cant

Hi all,
I am a male aged 63, living in the UK.
following a divorce, witch left me with very little I
was lucky enough to get a Housing Association studio flat.
But anti social behaviour of neighbours has been a constant problem.

I have been advised I am able to buy a property with a mortgage even though
I am 63 years old.

If a lender will give me the mortgage based on my current earnings, can
anyone explain what could happen when I retire?

I have savings of 7,000 pound
I know my occupational and state pensions will be a lot lower than my
current wage of 14, 000 a year.
Would the mortgage be best if interest only,?

Thanks for reading,
Mick.
 
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C

Colin Wilson

was lucky enough to get a Housing Association studio flat.
But anti social behaviour of neighbours has been a constant problem.
Have you tried speaking to the housing association ? - they're usually
pretty good when it comes to keeping the tenants in order, as they can
kick them out much easier than the council could...

It might be worth making a few logs of what's happening, it'd add
weight to your side of the story.
 
B

Bert

Mick Cant [[email protected]] said:
Hi all,
I am a male aged 63, living in the UK.
following a divorce, witch left me with very little I
was lucky enough to get a Housing Association studio flat.
But anti social behaviour of neighbours has been a constant problem.

I have been advised I am able to buy a property with a mortgage even though
I am 63 years old.
Out of interest, who gave you this advice?
 
M

Mick Cant

Bert said:
Mick Cant [[email protected]] said:
Hi all,
I am a male aged 63, living in the UK.
following a divorce, witch left me with very little I
was lucky enough to get a Housing Association studio flat.
But anti social behaviour of neighbours has been a constant problem.

I have been advised I am able to buy a property with a mortgage even
though
I am 63 years old.
Out of interest, who gave you this advice?
Hi Bert,
It was a mortgage advisor in a High St estate agents,
When I tried to see if I could buy a home when first divorced 6 years ago
they said no because of my age meant I could not repay it before finishing
work,
but seem to think different now!
Mick.
 
Y

Yes Baby

Mick Cant said:
Hi all,
I am a male aged 63, living in the UK.
following a divorce, witch left me with very little I
was lucky enough to get a Housing Association studio flat.
But anti social behaviour of neighbours has been a constant problem.

I have been advised I am able to buy a property with a mortgage even
though
I am 63 years old.

If a lender will give me the mortgage based on my current earnings, can
anyone explain what could happen when I retire?

I have savings of 7,000 pound
I know my occupational and state pensions will be a lot lower than my
current wage of 14, 000 a year.
Would the mortgage be best if interest only,?

Thanks for reading,
Mick.
I think you stand more chance of winning the lottery.............

or just shoot one of those neighbours and you'll get housed in one of HM's
guest houses.............think breakfast, lunch, dinner, tv, phones,
internet, all mod cons (no pun intended) these days.
 
M

Mogga

Bert said:
Mick Cant [[email protected]] said:
Hi all,
I am a male aged 63, living in the UK.
following a divorce, witch left me with very little I
was lucky enough to get a Housing Association studio flat.
But anti social behaviour of neighbours has been a constant problem.

I have been advised I am able to buy a property with a mortgage even
though
I am 63 years old.
Out of interest, who gave you this advice?
Hi Bert,
It was a mortgage advisor in a High St estate agents,
When I tried to see if I could buy a home when first divorced 6 years ago
they said no because of my age meant I could not repay it before finishing
work,
but seem to think different now!
Mick.
Yes they're desperate to sell overpriced flats!

My advice would be to push the housing association where you live now
for help and perhaps get you rehoused.
Get your local councillor to assist - visit them at a local surgery or
at a community council meeting if you have them in your area.

You need to be bloody minded and very persistent in getting nuisance
sorted and this is often very stressful so you should ask about being
moved to somewhere quieter.

Don't buy a flat unless it's in the convenents that they are to be all
owner occupied else you'd get some scuzzy private landlord putting bad
tenants in next to you and then you're in a worse position!!
 
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D

Daytona

Get your local councillor to assist - visit them at a local surgery or
at a community council meeting if you have them in your area.
I agree that's a good plan along with escalating through the councils
complaints procedure up to the Parliamentary Ombudsman
<URL:http://www.ombudsman.org.uk/> if possible. Definitely don't be
pushed into buying some overpriced property that no one else would buy
other than in boom times when they're desperate, because they can't
afford anything else.

Daytona
 
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W

whitely525

Bert said:
Mick Cant [[email protected]] said:
Hi all,
I am a male aged 63, living in the UK.
following a divorce, witch left me with very little I
was lucky enough to get a Housing Association studio flat.
But anti social behaviour of neighbours has been a constant problem.
I have been advised I am able to buy a property with a mortgage even
though
I am 63 years old.
Out of interest, who gave you this advice?
Hi Bert,
It was a mortgage advisor in a High St estate agents,
When I tried to see if I could buy a home when first divorced 6 years ago
they said no because of my age meant I could not repay it before finishing
work,
but seem to think different now!
Mick.
Yes they're desperate to sell overpriced flats!

My advice would be to push the housing association where you live now
for help and perhaps get you rehoused.
Get your local councillor to assist - visit them at a local surgery or
at a community council meeting if you have them in your area.

You need to be bloody minded and very persistent in getting nuisance
sorted and this is often very stressful so you should ask about being
moved to somewhere quieter.

Don't buy a flat unless it's in the convenents that they are to be all
owner occupied else you'd get some scuzzy private landlord putting bad
tenants in next to you and then you're in a worse position!!
Very few have this restriction. And even then its no guarantee.

I've seen a few for sale for 'over 55s only'. I guess HA/council is
the best bet.
 

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