Retirement Interest Only
Many Building Societies are able to offer your a mortgage much later in life than other banks. If your income is enough to cover the mortgage repayments then there will be a mortgage to suit you.
These mortgages can be used to help you repay an interest only mortgage, borrow more money to improve your home, fund purchases or to repay other debts.
You can use these mortgages to purchase property too.
The amount you are able to borrow is based on your affordability- the difference between what you earn and your monthly outgoings.
These are mortgages that are designed to be for the rest of your life and often come with lifetime fixed rates. Money is released tax free. They offer optional payments to reduce or maintain the balance
The amount you can borrow is based on your age and the value of your home rather than your ability to make the payments. As there are optional payments rather than compulsory, your home is never at risk if you are unable or choose not to make payments. You always retain full ownership of the property and can protect an amount of the property to leave as an inheritance.
These are relatively new mortgages offered by some banks and building societies. They are designed to enable you to continue to have an interest only mortgage for the rest of your lives.
They are based on ability to pay the interest element of the loan and If you are a couple the lenders will ascertain what pension provision will pass between you. As an Interest only mortgage, the amount borrowed always remains the same. If for any reason you become unable to make the monthly payments your home will be at risk of repossession.
| Later Life Lending Solutions
At Mortgage Call we have many years of experience in helping later life lending customers get the mortgages they deserve.
You certainly can get a mortgage as an older borrower, you just need to make sure you get advice and you're going with the right lenders. Contrary to popular belief you are able to get a mortgage should you need one well into your 90s
Later Life Lending Specialist
Many Years Industry Experience
130+ Years Combined Experience
Later Life Lending Specialist
Whole of Market Access
Whole of Market Access
To find out more get in touch for a free no obligation discussion based on your specific circumstances
"Thanks Eric for doing such a great job in getting us our mortgage.
It wasn't a straight forward situation and your expertise was vital in allowing us to purchase our new home."
"Eric has been great, helped me understand each stage and explained it clearly. Responds quickly. Very happy indeed and
would definitely recommend!
"Professional and friendly, great service. Thank you for your help
with my mortgage during a very challenging year."
"As first time buyers, finding offers was incredibly tough. Eric went
out to individual lenders and created a bespoke offering tailored
to us. The communication was crystal clear and he was always
available. Impeccable service!"
Let Us Find The Right Lenders For You
We act as a bridge between you and the mortgage lenders that can help them, saving you the time and effort of speaking to multiple companies some of whom can only offer specific products.
At Mortgage Call we have access to bespoke and exclusive interest rates saving you money.
Access to exclusive interest rates
The money is always released tax-free and can be used for any legal purpose.
WANT TO TALK TO ONE OF OUR MORTGAGE EXPERTS?
Not quite sure which option would be best for you? Arrange a call with us to fully explore the different types of mortgages available to you.
Mortgage Call are a professional mortgage broker, delivering industry-leading mortgages to first-time buyers, self-employed and later life lending customers for over 25 years.
01422 20 60 90
10a Denholme Gate Road, Hipperholme, Halifax,
The guidance and/or advice contained within this website are subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. Terms and Conditions: Please read our full privacy statement before you proceed.
Mortgage Call is a trading style of Eric Armstrong who is an Appointed Representative of Mortgage Next Network Limited, which is authorised and regulated by the Financial Conduct Authority under number 300866 in respect of mortgage, insurance and consumer credit mediation activities only.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Please note that some forms of BTL mortgages are not regulated by the FCA
10a Denholme Gate Road
t: 01422 206090
We always aim to provide a high quality service to our customers. However, if you encounter any problems and we are unable to resolve them you can take your complaint to an independent Ombudsman. Our advice is covered under the Financial Ombudsman Service.
How to complain (financial-ombudsman.org.uk)
*There may be a fee for the advice given, the exact amount will depend upon your circumstances. If the mortgage is under £60,000, a fee will be payable and will not exceed £295. For all Equity Release/Lifetime mortgages, a fee will be payable of £795. All fees are payable on completion, please ask for further information on the fee you could pay.