lending into retirement

Lending Into Retirement

Lending into retirement.

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I wanted to let you know about Lending Into Retirement products that may help you, or those you know, where the end of the current mortgage term has been reached and you do not want to sell your residential property.

Rates are comparable to regular mortgage rates.

  • No maximum age for lending
  • Loans of up to 75% of property value
  • Loan may be Interest Only
  • No income multiple – loan is based on affordability
  • Retired with dividend, Investment or Pension income?
  • Self-employed income considered beyond the age of 70
  • Lifestyle Boost into retirement mortgage product
  • Downsizing accepted
  • No credit scoring
  • Up to 4 applicants
  • Manual underwriting, not computer-driven

Examples:

  1. Applicant aged 72 – His current mortgage lender would not extend the term and allow lending into retirement due to his age. He did not want to sell his residential property. We managed to arrange a 14 year term on an interest-only basis.
  2. Couple aged 75 and wanted to help their daughter with a deposit for her residential property. They did not want to do an Equity Release and only wanted a 5 year interest-only term. We managed to get them the funds they required with the Lifetime Boost into retirement product paying a set amount each month on interest only.
  3. Applicant aged 74 who didn’t want to sell his property but couldn’t afford the re-mortgage on his pension income. We added his son and daughter to the re-mortgage, who owned their own residential homes. Their surplus income was used for affordability purposes. Although added to their father’s mortgage they didn’t need to be added to the title deeds saving them from any stamp duty fees.

 

Let us say “Yes, we can help” – Lending into retirement

Office Telephone: 01379 644061

Office Mobile:  Call/SMS/Text/Whatsapp/Viber  07951 238527

THINK CAREFULLY BEFORE SECURING ANY LOAN AGAINST YOUR HOME

For your no-obligation quote, click HERE…

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