Mortgage For Elderly

Mortgage For Elderly

Mortgage For Elderly - Mortgage for elderly people and pensioner finance are mortgages available to those in or near to retirement. The credit available for the elderly, as well as the restriction of credit available generally, has made finding a mortgage for elderly people harder. While there are a variety of options open to elderly people seeking finance, obtaining the most appropriate and suitable mortgage for elderly clients in the current climate can be a difficult process.

Whether you are looking to consolidate existing debt, raise funds for repairs to your home or remortgage away from your current lender, we will be able to assess which lenders are likely to give you the capital you are looking for and the better deal you deserve.

Based on the elderly persons’ pension income, both state and private, we can advise you on whether a capital and interest repayment, an interest only or an ISA mortgage is the most appropriate. Capital and interest refers to paying down both the interest charged on the mortgage and the actual lump sum itself.

This contrasts with an interest only mortgage for elderly people, where only the charges e.g. interest, are paid each month, leaving the lump sum to be paid at the end of the term. This will come from the ISA or other investment linked to the mortgage set up by the elderly person.

Whatever your situation is when seeking a mortgage for elderly people, our team of specialist mortgage brokers will strive to get you the best possible deal available.

If you need any assistance why not speak to one of our Mortgage Advisers by calling 020 77 100 400 or Enquire Online.

For expert mortgage for elderly borrowers advice and assistance, call us today.

How to get in touch

Feefo logo

Selected Mortgages For Aged 60 to 90

A selection of some of our lenders mortgage products and rates are shown below. Contact us for a quote specific to your circumstances. Table data updated 04/04/2016.

CodeIntial
Rate
Mortgage
Type
For /
Unit
Subsequent
Rate
APRCCEarly
Repayment
Charge
Fixed Lender
Fees
% Lender
Fees
Notes

001

*SEMI EXCLUSIVE*

2.64% Discount Variable 3 Years 4.79% 4.41% 3% withinh first year. £945 None

Maximum age 94 (subject to age at application)

Repayment Only

Maximum 80% LTV

 

002

 

1.69% Discount Variable 30/06/2018 5.95% 5.28% 1% until 30/06/2018 £199 None

Maximum age 85

Free Standard Valuation

Repayment only

Remortgages and Purchases

Maximum LTV 80%

 

 

003

 

 

2.99% Fixed 31/08/2020 5.95% 5.07% 3% until 31/08/2020 £999 None

Maximum age 85

Free Standard Valuation

Repayment

Remortgages and Purchases

Maximum LTV 80%

004

*EXCLUSIVE*

2.99% Discount 5 years 5.49% 4.86% 2.5% in year 1 then 2% in year 2. Then 1.5% in 3rd year... £0 None

No max Age

Interest Only

Remortgages and Purchases

Maximum 80% LTV