Most lenders will allow clients to have their mortgage term up to their intended retirement age (normally 67). Lenders are now recognising that many people are working past retirement age so if you need your mortgage term to go beyond your retirement age speak to us. We have lenders who can assess working income to age 70 or even 75, in some cases beyond that.
We also have access to lenders who will allow you to use your retirement income if you need to, with some lending beyond age 75.
If you have retired, or are about to, you home is probably your greatest asset. You may be looking to release money from your home to spend during your retirement. The FCA has recently changed regulation around Retirement Interest Only Mortgages so now might be a good time to weigh up your option around whether lending into retirement is for you. Give us a call to discuss your options.