Mortgages for Over 65s

Mortgages for over 65s are for you if you are aged 65 or over, we are pleased to be able to offer you some exclusive mortgage options via one of our Mortgage Broker partners. These are regular mortgages and are NOT Equity Release products. There are actually several options provided by different (and an increasing number of) Lenders but our Retirement mortgage is probably the most popular one. The summary details of this are as follows:

  • Get up to £350,000 (negotiable) subject to a max LTV of 50% and there must be £150,000 equity left in the property
  • Rate can be fixed or variable
  • Terms of up to 25 years
  • No upper age limit on applicants
  • Income must be provable but salary, pension, rental and investment income are all acceptable. In some circumstance income from immediate family members can also be considered.
  • Interest Only options are potentially also available
  • No Early Repayment Charges after the first year
  • The applicant must be the Owner-occupier of the property


This Retirement mortgage is just one option available to those over 65. Though the above terms serve as a good guide (in terms of the amounts and LTVs available) many Lenders do offer varying deals so if you don't meet all the above terms or have a situation that varies slightly from this it is certainly still worth you speaking with a mortgage advisor and see if you qualify for a Mortgages for over 65s


The main point though is that there is now a substantial and growing market for those who are over 65 and want to get a mortgage but who do not want to go down the Equity release route. If you are interested in finding out more then please either call us on 01494 410 125 or fill in the form opposite and we will call you.


Any enquiry you make is, of course, without any cost or obligation to you. We will present you with the facts and let you decide if it is for you. We will not pester you, we will not try to cross sell you other products and we will not pass your details to third parties.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT

"Great service and great advice in getting the loan. Thank you very much."

Garage/MOT business, West Sussex

What is needed to apply

Applying for a Residential Mortgage is very straightforward. Below are listed the things you need in order to apply.

  • Eligibility Criteria You will need clean credit, sufficient income and a deposit (of variable amount).
  • Documents Required Application form, proof of ID and proof of income are all required as standard.
  • Additional Comments A mortgage usually takes 6-8 weeks to arrange.

FAQ

faq

Choice Loans Customer Reviews

To learn more or to apply for a Residential Mortgages please either fill in the call back form at the top of this page or call us on 01494 410 125 and we'll walk you through your options at no cost or obligation.