Keri Harvey trading as Dragon Financial Services, is an appointed representative of the On-Line Partnership Limited, which is authorised and regulated by the Financial Conduct Authority. Think carefully about securing other debts against your home. Your home may be repossessed if you do not keep repayments on a mortgage or any other debt secured against it.
Several mortgage lenders have entered the Later Life sector and have chosen to offer conventional mortgages for the Over-50s and Retired market, making schemes available up to age 85 years in some cases. Whilst many of these schemes must be on a full capital and interest repayment basis, certain lenders still offer ‘interest-only’ options, where a suitable repayment vehicle is in place (including down-sizing at a later date) or sufficient equity over and above the borrowing requirement.We have for several years been specialising in providing later life borrowing solutions and although we cannot guarantee that every enquiry will result in a lender offering a mortgage (all applications are subject to status and underwriting) we can assist more often than not.Many people are pleased to have access to our service in this area and even where there is borrowing in place against the property, we can often find an alternative solution on a more cost-effective basis, due in no small part to the decrease in mortgage interest rates.
All mortgages where capital and interest (or interest-only) is paid, are subject to affordability calculations and requirements set by the individual lenders concerned. We are happy to research the options for you free of charge, to ascertain that you qualify for a later-life mortgage.