House prices are high. Old news.
But you may not have realised the impact they’re having – not only on how much buyers borrow, but when and for how long. With a huge deposit to save, the average first-time buyer is now in their 30s, and with long mortgages ahead, people are still paying off their home between 75 and 84 years old and owe £78,000 on average.
Specialist lender Together thinks it’s time for mortgage providers to get real when it comes to modern lives, and adapt their criteria for the new normal. So, with these incredible statistics in mind, they’ve raised their maximum age at redemption to 85 for first-charge personal mortgages.
So whether your client is an older first-time buyer with stretched monthly income, or a retired borrower buying a second home, they may be able to help.
At a glance:
- Mortgages from £3,000 to £1m (£1m+ by referral).
- Fixed rates from 3.99%.
- Variable rates from 6.37%.
- Up to 75% LTV.
- Terms from 3 to 40 years.
- Interest-only and capital repayment options.
- No valuation or lender’s solicitor charges.
To find out more or discuss a case, call Broker Relations on 0330 127 6806, or contact your local Business Development Manager.
View Together’s full product guides here:
togethermoney.com/partners/financial-intermediaries/our-products/
