At Ipswich Building Society, we think things should get better with age
Older and retired borrowers continue to experience difficulty in the mortgage market, despite research from the Council of Mortgage Lenders in 2016 reporting that one in three mortgages now takes applicants past state retirement age.
Why choose Ipswich Building Society for your client’s needs?
- We have no maximum age limit
- We will consider applications for capital raising
- We have a bespoke retirement affordability calculator
- We can lend on an interest-only basis where there is a suitable repayment vehicle, such as the sale of a second home or other investments
- We underwrite our applications in-house, where we can get a better view of your client’s individual circumstances
- For more information, view our useful infographic
Age is but a number
Rather than following a computerised ‘one size fits all’ approach, we manually underwrite all of our cases – allowing us to look at your client’s individual circumstances and identify how best we can help. Most importantly, we focus on your client’s ability to service the loan into retirement, rather than simply how old they happen to be!
Last year we underlined our continuing commitment to older borrowers by removing our maximum age limit for mortgage lending, allowing us an even greater level of flexibility to meet your client’s needs.
As you will know, the reasons why your client may need a mortgage can sometimes be complex – perhaps capital raising to gift to children and grandchildren, helping them to get onto the property ladder – or even to purchase a second home. We’ve also worked with so-called ‘mortgage prisoners’; those finding themselves unable to remortgage both due to their age and the rigid, inflexible criteria of the high-street lenders.
We’re familiar with cases like this and there’s a good chance we’ll be able to help – don’t forget to use our handy retirement affordability calculator to do the number crunching so you don’t have to!
We are delighted to continue our partnership with the Right Mortgage network. Our products are available to all appointed representatives and DA’s based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire, Hertfordshire and Buckinghamshire.
We’ve recently reduced rates on many of our products, so give us a ring on 0330 123 1073 – our experienced Business Development team are waiting for your call. Don’t forget – you can also submit your cases to us online if you’ve already registered with our panel.
