Even those who have been scrupulous, saving and conserving resources during their working years to finance their retirement, sometimes wind up a bit short later in life. When faced with a financial shortfall some retirees will simply scale back their plans.
Others, however, have no desire to compromise and so come to us to discuss Later in Life Mortgages in Beckenham. The Later in Life Mortgage provides a way to leverage the equity built up in a home in order to finance whatever it is you wish to finance. But is it for you? Let’s take a look.
How Do Later in Life Mortgages in Beckenham Work?
A Later in Life Mortgage is not dissimilar to a home equity loan although there are some notable conditions that set it apart. For instance, to be eligible for a Later in Life Mortgage you must be between 55 and 94, applying for a mortgage on your primary residence, and be able to prove a pension income.