Don’t forget to consider the Family Building Society’s Retirement Lifestyle Booster mortgage as an alternative to Equity Release, for your clients who are mortgage free.
How the Retirement Lifestyle Booster works
- Provides a fixed amount each and every month for 10 years or a lump sum at the beginning of the term followed by smaller monthly payments.
- Your client pays a set amount each month to the Family Building Society to cover the ‘average’ interest owed.
- At the end of 10 years, assuming all the interest payments have been made, what’s owed is what was borrowed.
About the Family Building Society
- Human underwriters review applications on an individual case by case basis.
- They can lend up to a 5 year term to an 89 year old and a maximum 16 year term to a 70 year old.
- No upper age restrictions on products (though the maximum mortgage term may be limited).
- They take into account earned income up to the age of 70 and pension income beyond that.
- They accept rental and investment income that can be shown on an SA302.
- Award winning products combined with specialist expertise of lending to those aged 60 and above.
Contact details
Website: http://intermediaries.familybuildingsociety.co.uk
Telephone: 01372 744155
Email: mortgage.desk@familybsoc.co.uk
