This mortgage is designed with the over 65′s in mind, who can afford to pay for a mortgage on a monthly basis, the minimum age is 65 with no maximum age. This can be arranged on a Capital & Interest basis or Interest Only basis and is available for purchases and for re-mortgages where a free legal package can be provided.
All major lenders have a maximum age at the end of the mortgage term of between 65 and 75 and generally are not interested in older applicants even if they can demonstrate that they can afford a monthly payment. The maximum loan including the lenders arrangement fee must not exceed 50% of the property’s value (capped at £350,000) and there must be £150,000 equity remaing in the property. The loan can be used for any legal purpose and is available today, so please call 01392 216344 before funds are exhausted.