Chorley Building Society understand that lifestyles have changed and with them financial needs. The Society has now launched a range of Later Life Lending mortgages for older borrowers who wish to apply for a mortgage past the age of 70 or are in need of a mortgage term that will take them beyond the age of 70.
A 5 year remortgage discounted product is available at 80% LTV with no scheme fee. The range also includes 2 and 5 year discounted products at 80% and 90% LTV, both with 0.75% scheme fees.
These products are available for residential properties. Not available to customers who meet the Credit Renew criteria.
See the Chorley Building Society website for more details.
The Chorley approach to mortgages:
- All cases individually underwritten
- Common Sense Approach – experienced underwriter
- No credit score – Credit Search
- No maximum age
- Realistic approach to Lending into/whilst retired
- Up to 4 applicants allowed & up to 4 incomes counted
- Guarantors welcome
- Concessional purchase and gifted deposits
- Interest only option
- Buy to let loans available
- Flexible approach to contract workers and self employed
- Will consider IVA/Bankruptcy discharged over 3 years
- CCJ’s or defaults settled over 3 years ago considered
- One CCJ or default issued within last 3 years less than £500 acceptable
- RTB and HTB
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