We’re experts in lending to older borrowers. Here are some of the ways we can help to place your case:
- No maximum age limit AND up to a 40 year term
- When calculating affordability we accept 100% of pension income, 75% of investment income and a proportion of other income such as property rental (if unencumbered)
- Up to 75% LTV on capital & interest repayment, and interest only available up to 50%, with only 150k equity required (also available on part & part)
We have a range of specialist products available – including a two-year deal with no ERC, ideal for clients who may be purchasing an additional property now in readiness for their retirement, then selling up once they’ve moved in (often a ‘sale and downsize’ move). With no ERC this means they’re able to repay their entire loan early, before the end of the term, with no penalties.
Or, of course, your client may be borrowing against their home for a number of different reasons – we’ve helped with all of the following:
- Borrowing for home improvements, such as a conservatory, an extension or a new kitchen
- Releasing equity to help family onto the property ladder, by gifting them with a deposit
- Using the funds for a second home, holiday home or a rental property
Whatever the needs of your later life clients, speak to us.
Andrew Sadler, Senior Business Development Manager
E: bdt@ibs.co.uk
T: 0330 123 1073
W: www.ipswich-intermediaries.co.uk
Don’t forget you can submit your cases to us online by registering with our panel.
*Available to all Right Mortgage Network appointed representatives, plus DA’s based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire, Hertfordshire and Buckinghamshire.
