Mortgages For Elderly People

Mortgages For Elderly People

Mortgages For Elderly People - Mortgages for elderly people have become increasingly difficult to secure over recent years. The restriction on mortgages for elderly people together with the limitations on credit available generally has had a detrimental effect on elderly people securing mortgages. This is due to the general mortgage market but in addition is coupled with concerns over serving the mortgage into retirement and the uncertainty of payments from pension funds, both state and private, where large gaps in funding have been identified and widely recognised.

However, using our mortgages for elderly people comprehensive panel base, our team of brokers can take you through the range of mortgages for elderly people and can offer a higher chance of successfully obtaining your requested finance. This is due to our good working relationships with underwriters at banks and building societies across the UK. We offer a fully comprehensive mortgages for elderly people service, finishing all documentation to your time scale and reviewing your case on a regular basis to ensure you get the best rates available on mortgages for elderly people.

Taking into account the applicant’s age, income and repayment method requested, we can potentially secure mortgages for elderly people up to 85 years old on interest only basis or traditional repayment mortgages. On a repayment mortgage both capital and interest are paid down concurrently. This pays off the outstanding capital by the end of the term, providing all payments have been made in full and on time. However, monthly payments will generally be lower with interest only mortgages for elderly people, though another investment will be needed to pay the mortgage value in full when the mortgage contract has finished. Elderly people will need to talk to an Independent Financial Advisor if they wish to arrange an interest only product to organise an appropriate investment vehicle

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

Our brokers can take the stress out of finding mortgages for elderly people. To speak to one of the team specialising in securing mortgages for elderly people, call us today.

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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