At Hinckley & Rugby, we know how difficult it is to find the right product for your later-life clients, which is why we’ve created a range of mortgages specifically for borrowers who will be over 75 at the end of the mortgage term or require borrowing in or into retirement. Our Later-Life mortgages have been carefully designed to provide flexibility appropriate for applicants’ circumstances.

Take a look at our range of Later-Life mortgages on our website and contact our Business Development team who will help you find the right product for your client.

Read the real-life case below of a later-life applicant who was approved for a Buy to Let remortgage after being refused by other lenders:

Buy to Let remortgage approved for later-life applicant
The application: 

  • The later-life applicant requested £250,000 to remortgage his Buy to Let property in order to purchase an office space and to repay some money to his partner, who had lent him the deposit for the subject property
  • The 70-year-old applicant was a self-employed accountant who had no intention of retiring in the near future. He was also in receipt of state pension
  • He and his partner lived together in their jointly owned residential property
  • He currently worked from rented office space

Our solution: 

Using accounts provided by the applicant as proof of income for the past two years, we used his salary to determine affordability and were able to offer the applicant all of the funds at 60% LTV over 10 years.

Intermediary Sales Manager, Julie Bourne, said:
“Due to his age and length of the mortgage term requested, the applicant had struggled to find a lender willing to consider his non retirement income. We were happy to accept the applicant’s intention to carry on working for the foreseeable future and, due to his retirement income not meeting minimum requirement, used his salary to meet affordability. On this basis, we were happy to approve the mortgage.”
Do you have a complex case you would like to discuss?

Contact our dedicated Business Development team: