Pensioner Interest Only Mortgages
Capital Fortune is a bespoke mortgage broker based in the City of London specializing in securing pensioner mortgages for people between the ages of 60 and 90. We assist clients obtain the right mortgage and ensure they qualify for the best rates available to them and us from the whole of the market.
We have been voted the Overall Adviser of the Year for the largest UK mortgage and protection network, two years in a row and have recently won the mortgage lenders industry award for Excellence in Treating Customers Fairly.
Many of our pensioner mortgage clients watched us commenting on the credit crunch on BBC TV Newsnight and supported our shortlist for Best UK Mortgage Adviser at the prestigious Money Marketing Financial Services Awards 2011. Many have given us testimonials and referrals because of our work.
Pensioner mortgage clients fully understand it is now more difficult to obtain a mortgage once you are 60. This becomes more problematic once you reach 65, 70 and 75 despite us living and working much longer than our own parents. This is why, when we arrange a mortgage we dont just look at the lender, the product or the rate, we also consider the length or term of the mortgage you are likely to require.
Our most mature client was 82 when we helped him, and we can assist people in similar situations. Our Advisers are available to take you through all the options available and you can call us on our national low rate number or request a call back online, whatever suits you best.
Clients who make contact with us often tell us of their frustration at the current restrictions on pensioner finance. They have appropriate income to support the mortgage and have significant equity in their home. They do not understand why many UK lenders will not consider their individual circumstances or refuse to offer mortgages for an appropriate term.
In order to qualify for pensioner mortgages and for us to assist, pension income must be sufficient and be derived from either private or State pensions. Your pension income can also be supplemented by other investment income such as stocks and shares, premium bonds and other investment vehicles if you have them, although this may not be a necessary requirement. Our Advisers will tell you, what will qualify as appropriate income and on calling, we will discuss in detail your individual and personal requirements.
At Capital Fortune, we know our lenders, we know our products and our rates. We have assisted a large numbers of clients over the age of 60 obtain a pensioner mortgage and often because of our relationships with lenders, we can secure them at standard rates. We refuse to allow lenders to charge more, simply because our clients may be older. On speaking to one of our Advisers you will quickly realise our independence is fundamental and we solely act on your behalf.
People over the age of 60, still buy property and we have helped a number of clients who have reached pension age and are looking to purchase a new home.
Whatever the reasons for your pensioner mortgage, we know our market and understand our lenders. Our job is to place you our client, with the right lender, at the right rate and at the right time.
Our experience offering mortgages for pensioners requires us to first check and confirm that the mortgage is affordable and suitable. This will require some form of regular income at the very least from State or private pension. You may have investment or rental income and if so this can be taken into account. We can also use earned income if you have continued to work either on an employed or self employed basis.
In deeming whether a mortgage is both suitable and affordable, mortgage lenders have to be sure that there is some form of track record to pension income and any other investment or earned income. Many lenders show reluctance in underwriting and agreeing these cases often given concerns around the sustainability of the type of income or earnings stream. We will need to assess whether it is guaranteed and or whether it is long term.
We understand these difficulties given our experience and our ability to contact senior underwriters to discuss you particular case with them directly, allows us to save you time, money and ultimately disappointment.
We will immediately know what lenders are likely to accept your type of income and which lender will agree our pensioner mortgages application.
On calling us, we will confirm all your details to assess whether they meet the mortgage criteria. If so, and on you choosing to work with us, we will provide you with a full written mortgage illustration that will include all the details and costs involved in the new mortgage. This will outline the exact rates payable and importantly, your new monthly mortgage payments. Regular feedback from our clients tells us this information is invaluable.
We will take you through the reccomended mortgage product in fine detail. The ' key facts' mortgage illustration is one of the most important documents you will receive as it allows you to make an informed choice. At Capital Fortune we will also provide you with a full written report detailing why we have reccomended the specific mortgage and justify, it is the most suitable and affordable mortgage product available to us from the whole of the market. Our clients tell us receiving our report and recommendation in writing gives them added peace of mind.
The process is quick and efficient and starts with a call to us on us on our low call rate number or request a call back online. You can choose whatever suits you best.
For assistance on our Pensioner Mortgages, call us today on 0845 3 630 430 or Enquiry Online.