Our retirement mortgage range allows flexibility for borrowers in later life with an interest only mortgage that allows downsizing as the repayment vehicle.
All applications will be individually assessed by a skilled underwriter giving an efficient and personal service.
Product Criteria
- Interest Only subject to sale & downsize of main UK residence as repayment strategy
- Minimum equity £250,000 (without geographical restriction)
- We can consider cases below this level if other assets are in place or if it is appropriate to the geographical area. Subject to Underwriter assessment
- Examples of property available for downsizing to in planned retirement area required
- Evidence of retirement income required
- Minimum loan size £30,000
- Maximum loan size £3,000,000. Loans over this are priced on a bespoke basis and have restricted LTV’s
- Must not be more than 5 years from retirement
- Maximum term determined by ONS tables
The interest rate charged will not fall below 2.00% (the minimum interest rate) at any point during the mortgage.