{"id":107081,"date":"2019-05-13T13:00:06","date_gmt":"2019-05-13T06:00:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/were-nearing-40-is-it-too-late-to-buy-our-first-property\/"},"modified":"2019-05-13T13:03:20","modified_gmt":"2019-05-13T06:03:20","slug":"were-nearing-40-is-it-too-late-to-buy-our-first-property","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/were-nearing-40-is-it-too-late-to-buy-our-first-property\/","title":{"rendered":"We're nearing 40 \u2013\u00a0is it too late to buy our first property?"},"content":{"rendered":"


\nWe thought we would never buy, but just came into some money and are wondering about a mortgageQ We are at a complete loss. We never imagined that we would be in a position to buy property as we have struggled for years to save but recently we have come into some money which we could use as a deposit. However, both my husband and I are nearing 40 so are we too late? Where do we even start with trying to organise a mortgage? Surely it would need to be a shorter term one. I am fearful of taking out too much and finding ourselves stuck at age 58 or higher. Most people our age are working towards paying their mortgage off whereas we would just be beginning. Should we just stick the money in a savings account instead?A No, I wouldn\u2019t just stick the money in a savings account. Buying a home of your own is clearly a long-term goal of yours even if you didn\u2019t think it was an achievable one. And at nearly 40, you and your husband are spring chickens when it comes to being considered as older borrowers. Most mainstream mortgage lenders set the maximum age you can be at the end of the mortgage term at 70 or 75 so you could easily get a mortgage with a typical term of 25 years. At least 15 building societies \u2013 which, according to the Building Societies Association, \u2018tend to be more flexible than high-street banks when it comes to maximum age limits\u2019 \u2013 have scrapped upper age limits altogether. As a result borrowers can take out a 25-year mortgage regardless of their age at the time they apply for a mortgage. Continue reading…
\n
\nSource : theguardian.com
\nRead more…We’re nearing 40 \u2013\u00a0is it too late to buy our first property?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

We thought we would never buy, but just came into some money and are wondering...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-107081","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-rR7","jetpack-related-posts":[{"id":132230,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-our-savings-go-towards-the-help-to-buy-loan-or-overpaying-a-new-mortgage\/","url_meta":{"origin":107081,"position":0},"title":"Should our savings go towards the help-to-buy loan or overpaying a new mortgage?","date":"December 5, 2022","format":false,"excerpt":"\r Our five-year fixed-rate deal ends soon, we have saved \u00a3100,000 and need the best remortgage strategyQ My husband and I purchased a property in May 2018 for \u00a3600,000 using the London help-to-buy scheme. We took out the maximum help-to-buy loan of \u00a3240,000 and put in a \u00a330,000 deposit. At\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":121843,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-a-help-to-buy-isa-surplus-be-put-towards-solicitors-fees\/","url_meta":{"origin":107081,"position":1},"title":"Can a help-to-buy Isa surplus be put towards solicitors\u2019 fees?","date":"September 6, 2021","format":false,"excerpt":"\r My son has made an offer on a property and is unsure whether to pay another \u00a3200 into the account Q My son has saved \u00a35,200 in a help-to-buy Isa and has put in an offer for a property with a purchase price of \u00a3126,200. The government bonus of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120938,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/can-we-get-a-buy-to-let-mortgage-and-use-the-house-as-a-holiday-let\/","url_meta":{"origin":107081,"position":2},"title":"Can we get a buy-to-let mortgage and use the house as a holiday let?","date":"July 19, 2021","format":false,"excerpt":"\r We\u2019re hoping we could save as the tax incentives for furnished holiday lets are betterQ We are two women who are nearing our mid-60s and won\u2019t get our state pensions until we are 66. I work in schools and earn very little while my partner is a graphic designer\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8762,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/should-we-use-savings-to-pay-off-part-of-our-help-to-buy-loan\/","url_meta":{"origin":107081,"position":3},"title":"Should we use savings to pay off part of our Help to Buy loan?","date":"August 7, 2014","format":false,"excerpt":"\r A reader wonders whether to use savings on Help to Buy, or to reduce her main mortgage \u2013 or to wait to remortgageQ My husband and I purchased a new-build house for \u00a3300,000 in January 2014, with a \u00a340,000 deposit, \u00a360,000 Help to Buy equity loan and a \u00a3200,000\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71789,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/women-nearing-retirement-have-half-the-savings-of-men-mps-hear\/","url_meta":{"origin":107081,"position":4},"title":"Women nearing retirement have half the savings of men, MPs hear","date":"November 14, 2017","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...Women nearing retirement have half the savings of men, MPs hear","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":163537,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/what-this-fed-rate-cut-means-for-your-credit-card-mortgage-auto-loan-student-debt-and-savings-account\/","url_meta":{"origin":107081,"position":5},"title":"What this Fed rate cut means for your credit card, mortgage, auto loan, student debt and savings account","date":"October 30, 2025","format":false,"excerpt":"\r Here\u2019s a look at all of the ways the Fed decision could affect your finances.\r \r Source : cnbc.com\r Read more...What this Fed rate cut means for your credit card, mortgage, auto loan, student debt and savings account","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/107081"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=107081"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/107081\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=107081"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=107081"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=107081"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}