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Home Economics: I am divorcing and need to buy a house at age 54 – can I get a mortgage?

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5 months ago

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Home Economics: I am divorcing and need to buy a house at age 54 – can I get a mortgage?

Our property finance expert answers your questions

There is not just a new mortgage, but a whole new mortgage market opening up in response to demand from older applicants with a need to access credit later in life. Photo: Getty

Question My wife and I are getting divorced and it is agreed I will move out of the family home (in fact I have done this and am renting), with a view to selling it once our children are finished university by 2026.

In order to provide a home where they can visit and where I am happy to live, it will be necessary for me to get a mortgage because the proceeds of the sale wouldn’t be enough to buy outright.

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