As you get older, you might want to release some of your home’s equity. However, most banks are hesitant to lend to those beyond the age of 70. Mortgage & Lifetime Solutions takes a pragmatic approach towards older borrowers.
As living conditions continue to improve, life expectancy rates are rising. This means you can expect a longer retirement and we’re here to help the elderly generation enjoy those golden years. Our Bromley office offers Later Life mortgages for those young at heart over 50s, to those up to 95 years old.
Why Borrow Later in Life?
A reason to borrow later in life is to maximise your enjoyment during retirement. A Later Life mortgage frees up the money in your house without you having to move out. Use that money for that once in a lifetime holiday or whatever pursuit you want to take up. You can, if you want make upgrades to your home, add a conservatory or redo the garden. A Later Life mortgage can serve as the source of funding for these DIY projects. Alternatively, use this money to help out younger family members in need of financial assistance.
No matter what the reason is, a Later Life mortgage provides you with a valuable funding solution. Additionally, with the age cap at 95 years old, you don’t have to worry about being rejected. You’ve looked after your house all these years, maybe it’s time to let your house look after you.