More people are looking to borrow in retirement. With life expectancy rising and financial needs evolving, older borrowers need more flexible mortgage options.
Here’s how we can help your retired clients:
- We take into account income up to the age of 70, or even 75 if your client is in a non-manual role.
- We consider other incomes such as pension pots, investments and fixed pensions.
- Assessments are now carried out on a purely Interest-Only calculation regardless of the term length, improving affordability especially for those longer term applications.
- We lend in retirement with higher maximum ages than most lenders, with a maximum age of 95 at the end of term for Repayment mortgages or 89 when the loan commences for Interest-Only and BTL mortgages.
- We have a common sense approach to lending and every case is manually underwritten by humans not computers.