Later life lending

Do you have clients who were turned down by high street lenders simply because of their age?

We know that not every client is a straightforward case and don't believe in a 'one size fits all' approach to lending. We'll always take the time to listen to those people who are not well served by the mass market, such as those approaching or in retirement.

We lend in retirement

We've helped many borrowers remain in their home by allowing them to have a mortgage with us well into their retirement. We've also helped Interest-Only borrowers who have found themselves trapped on high interest rates.

Your client should have the choice to downsize when they want, not when their current lender says they should.

But don't just take our word for it, you can hear direct from one of our customers, Warwick, as he shares his and his wife Lynda's story of working with us to get a mortgage in later life. 

 

MS LL

 WATCH

Lunchtime Learning: Bridging the Generation Gap

In partnership with Mortgage Solutions

 

Case study - Later life mortgages

Warwick tells the story of the struggles he and his wife Lynda had in getting a new mortgage close to his retirement, and how we were able to help them.

What makes us different?

  • We have a personal approach to lending and manually underwrite all our mortgages
  • We offer generous mortgage terms for older borrowers:
    • Owner Occupier Repayment mortgages – up to a maximum age of 95 at the end of the term
    • Owner Occupier Interest-Only and Buy to Let mortgages – up to a maximum age of 89 when the loan commences
  • We’ll take into account earned income up to the age of 70, plus fixed pensions and pension pots beyond that
  • We can also accept rental and investment income that can be evidenced on an SA302.

 

Find out more about our range of Owner Occupier mortgages

Or see our Owner Occupier lending criteria

 

RETIREMENT INTEREST ONLY (RIO)

Our RIO mortgages do not have a term end date, giving your clients the flexibility to enjoy their home until a specific life event, such as moving into long-term care or passing away, triggers the repayment of their mortgage.

  • Available for clients aged 55 and over (for joint borrowers both clients must be 55 or older)
  • Maximum LTV of 50%
  • Borrowers must continue to make monthly payments for an undefined term.

 

View more information about our Retirement Interest-Only

JOINT BORROWER SOLE PROPRIETOR (JBSP)

Our JBSP arrangement can also be an option for older borrowers. This arrangement is designed to enable family members to help support each other with affordability when applying for a mortgage, so older borrowers can be supported by their adult children's income.

 

View more information about our  JBSP arrangement

Check affordability and complete a DIP request 

Affordability Calculator    Owner Occupier DIP request

Ready to submit an application?

Owner Occupation application pack   Mortgage Hub

See how much your owner occupier client may be able to borrow

Affordability Calculator

Criteria checker

Can we help your client? Use our tool to find out.
Simply type your criteria to see our levels of acceptance and flexibility.

Find Your Local

Business Development Manager

Your Local BDM:

Neil Cadwallader

Neil has over 19 years experience in Financial Services from pensions and investments to mortgages. Neil focuses around South Wales and the West of England area. Contact Neil for help with your clients' mortgages.
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Your Local BDM:

Stuart Heavens

Stuart focuses on the South Coast area. Contact Stuart for help with your clients' mortgages.
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Your Local BDM:

Amar Mashru

Amar focuses on the Central London area. Contact Amar for help with your clients' mortgages.
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Your Local BDM:

Arif Kara

Arif was previously a mortgage adviser, and focuses on North and West London. Contact Arif for help with your clients' mortgages.
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Your Local BDM:

Nathan Waller

Nathan, previously a mortgage broker, focuses on Cambridgeshire, East Sussex, Essex, Suffolk, Hertfordshire, Bedfordshire, Lincolnshire, Norfolk and Kent. Contact Nathan for help with your clients' mortgages.
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Your Local BDM:

Grace Bennett

Grace focuses around the West M25 area. Contact Grace for help with your clients' mortgages.
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Your Local BDM:

Darren Deacon

Darren has over 28 years' Financial Services experience and focuses on both the East and West Midlands as well as the Southwest. Contact Darren for help with your clients' mortgages.
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Your Local BDM:

Paul Roberts

Paul has over 30 years' experience and focuses on the North (inc. M62 corridor), Yorkshire and the North East. Contact Paul for help with your clients' mortgages.
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We do not currently have a BDM covering your area. Please contact our Mortgage Helpdesk:

Opening hours: Monday - Friday: 9am - 5.30pm. Saturday: Closed

We may record any telephone calls we have with you in the interest of staff training, monitoring customer service or for security purposes.

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