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Thomas
Thomas, Solicitor
Category: Property Law
Satisfied Customers: 7602
Experience:  UK solicitor holding an England and Wales practising Certificate.
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Are there any problems associated with buying a property at

Customer Question

Are there any problems associated with buying a property at 70yrsI know there could be a problem with getting a mortgageBut other wise is there anything to watch out for.Regards *****
Submitted: 11 months ago.
Category: Property Law
Expert:  Thomas replied 11 months ago.

Hi

Thanks for your question. I will try to help.

Provided that you are either able to get a mortgage (unlikely unless you have significant cash or assets anyway) then there are no real problems.

Obviously, you would have to demonstrate to your conveyancer or soliciotr that you have the mental capacity to understand the implications of the decisions that you make, but any person has to do this whatever age and it will just likely be done in simple conversation when you instruct your sollicitor.

If you were to require care and owed care home fees to the local authority then they can apply for a charge on the property eventually, but if your cash was held in a bank account then they would not pay for your care anyway (you would have to pay for it yourself).

Additionally, when you were to pass away a Grant of Probate would have to be obtained because the property would not be capable of being transferred without the Grant, but it's relatively straight forward.

My goal is to provide you with a good service. If you feel you have received anything less, please reply back. Please remember to leave positive feedback using the stars at the top of the page.

Kind regards,

Tom

Thomas and 2 other Property Law Specialists are ready to help you
Customer: replied 11 months ago.
Thanks Tom
That answer to my question was really helpful
Lyn B
Customer: replied 10 months ago.
Thank you for your advice. I have thought about it and found it useful, I may have to purchase a property next year 2017. Thank you once again. Lynne Brant
Expert:  Thomas replied 10 months ago.

Thanks, you're welcome..

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