I'm nearly 50. Is it too late for me to start saving for a mortgage?

Bassmansam said:
what kind of house can you get for 50k?
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An unamazing one up north in a somewhat deprived area, basically. But it's possible, and beggars can't be choosers so to speak. My OH's colleague moved up to Burnley a few years ago, which was nearer home, and with an NHS salary which is banded across the UK (London aside) she was pretty much laughing.

Are you 'due' any inheritance OP?
 
ClockingOut said:
Better to plough more money into a pension rather than a mortgage then? I can't afford to pay substantial amounts into both and contributions to a pension need to be incredibly high when starting later.

Would a financial advisor be able to help with advice on savings, financial planning for a pension and mortgage or do they deal with these areas individually? I assume that this would come at a cost. I feel that there are so many issues to deal with , it's just knowing what to approach first and how.
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I always take all financial decisions myself, and I would never pay for any financial advice, because as soon as you are paying someone, they will give advice based on their incentive biases. If you are prepared to educate yourself on financial matters, then you are likely to end up making better financial decisions for yourself (although I guess your intelligence comes into it). Where financial advisors come in, is for relatively rich people that aren't interested in doing the legwork themselves. A lot of financial advisors will have minimum wealth levels required of their clients too, and I'm not sure you'd make it.

Anyway, FWIW, my view is that you should focus on housing costs before pension. Also, if you aren't already, get into the mentality of saving as much as you can and learning about investments. There is loads of free advice available from the internet.
 
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