Our retirement products ensure that age is no longer an issue for borrowers who have retired and are in receipt of pension income, allowing them access to a mortgage for their home.
Our latest later life lending options is a Retirement Interest Only product. This offers a conventional mortgage option for clients wishing to find an interest only mortgage.
Key product highlights for both products
- Max 60% LTV;
- No early repayment charge;
- Min Age 55;
- No Max Term;
- Min property price £100,000;
- LPA recommended – to be sent in when completed (not a mandatory requirement).
Retirement Interest Only – 5 year Discount RI04
- Up to 60% LTV
- Initial rate 3.39% discount of 1.85% from SVR
- Loan size £25k to £49,999
- Product fee £499
- Followed by our SVR currently 5.24% variable for the rest of the term.
- The overall cost for comparison is 4.8% APRC
- No ERC
Retirement Interest Only – 5 year discount RI03
- Up to 60% LTV
- Initial rate 3.39% discount of 1.85% from SVR
- Loan size up to £500,000
- Product fee £999
- Followed by our SVR currently 5.24% variable for the rest of the term.
- The overall cost for comparison is 4.8% APRC
- No ERC
To see full details of our later life lending products visit our website: www.bucksbs.co.uk
