Clients aged 50 and over looking to remortgage, renovate, move home or gift a deposit to children or grandchildren? A later life mortgage from Ipswich Building Society may be the ideal solution.

We have a dedicated range of later life mortgages specifically designed for borrowers over the age of 50, plus we have no maximum age limit and can accept 100% of your client’s pension income when calculating affordability. Find out more below.

There are a range of reasons why a borrower may want a mortgage over the age of 50 – for example, to finance home improvements such as adding a downstairs bedroom or wetroom or simply moving to their final retirement home. Some may even be looking for ways to gift money to children and grandchildren to help them get on the property ladder.

Here are just some of the ways we can help borrowers over the age of 50:

Dedicated later life products
Our later life range is exclusively available where at least one applicant is aged 50 and over. We offer a range of fixed and discount options, including 5 year deals and a 2 year discount with unlimited fee-free overpayments and no ERC.

Flexible income
We accept 100% of private & state pension income and 75% of investment income. We may also be able to look at income from other sources including rental income from unencumbered BTL properties and some benefits (such as DLA). Additionally, we can accept self employed manual income up to age 70 and non-manual up to age 75.

Wide-ranging policy
We have no maximum age limit and able to lend to applicants on a range of repayment methods. We can, for example, lend on an interest-only basis up to 50% LTV provided there is £150k of equity in the property. We offer terms from 5 years up to 40 years (at any age). We can consider capital raising for any number of reasons, including gifting money to children to help them onto the property ladder or even home improvements.

Retirement affordability calculator
On our website we have a retirement affordability calculator, so you can get an idea of whether your case will pass affordability. And if it doesn’t – don’t worry! There may still be ways we can help – simply give us a call and chat us through the case.

You can find more details on our website or give us a call on 0330 123 1073.

If you’ve got a case in mind speak to us:
E: bdt@ibs.co.uk
T: 0330 123 1073
W: www.ipswich-intermediaries.co.uk

Don’t forget you can submit your cases to us online by registering with our panel.