After the age of 55, there are lifetime mortgage products available to you such as a lifetime mortgage and a retirement interest only mortgage.
However, traditional high-street mortgage lenders are being innovative for more mature customers and allow terms of up to 85 years and beyond in some cases.
All 3 mortgage types can be used for purchasing a new home, remortage, repaying an existing mortgage, or releasing equity either as a lump sum or in smaller chunks as and when required.
Age should not be a barrier to get a mortgage, unfortunately is it with some lenders and brokers, with us, however we have the full range of older borrower lending solutions available.
We are an independent mortgage broker, and we work with both traditional mortgage lenders and the full range of later-life lending products, we will recommend the best, most cost-effective way forward for your individual situation.
The reason there now a higher demand for maximum age mortgages is:
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The mortgage products that do not do not have an age limit on the term are:
For advice on mortgages for the over 50s, please get in touch for a free, no-obligation consultation. We will answer your questions and recommend the best way forward for you.
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