Those looking to borrow into retirement may want to consider a Later Life mortgage.
These types of mortgages come with a few options: Given you are eligible, you may have the option to avoid making regular payments on your mortgage, and have the amount borrowed, plus interest, to be repaid on the event of your death or moving to long term care, by sale of the property. Alternatively, to reduce costs, you can apply for a Retirement Interest Only mortgage, which works much in the same way except that you can pay off the interest of your loan, and have the remaining capital repaid by sale of the property. Some lenders will also allow you to make capital repayments on your mortgage to reduce costs further.
Whether you are retired or nearing retirement, you may be considering one of the above options. At Saffron Mortgage Finders, our friendly team of experts will support you through every step of the process and will provide you with the guidance you need to make an informed decision.
This is a lifetime mortgage/home reversion plan. To understand the features and risks, ask for a personalised illustration.
At Saffron Mortgage Finders our clients are at the heart of everything we do.At Saffron Mortgage Finders our clients are at the heart of everything we do.
We bring with us many years experience, helping our clients navigate the options available to them through clear information and guidance for their mortgage and protection needs. With access to products from over 50 of the UK's best known lenders & providers, we can ensure we find the right outcome for you. With reduced fees for Saffron Building Society Members.Speak to our friendly team
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE