Financial advice: A mortgage In Ireland - repayment versus endowment
Just ask Arlington
You can get a mortgage amortized (calculated) over 50 years, the longest the lender will fix the interest rate is 10 years for an “AAA” plus borrower. The other borrowers will only be offered a term of somewhere between 1 and 5 years. At the end of that term the interest rate is readjusted to the then prevailing rate. Most lenders have a minimum term of 3 to 5 years and prefer applications before retirement age of 65, making the age limit around 61 to 62. There are some lenders that will allow borrowing beyond 65 so long as the applicant can prove their income in retirement, so the age limit does not apply across the board as each case is given individual treatment.
For any additional information, or questions regarding other subject matter, contact Sean O’Sullivan at Arlington Financial. Phone: 914-793-1122, email: Info@ArlingtonFinancial.com