On the edge of interest only… What’s available for your clients?
Many customers are approaching the end of their interest only mortgage and are looking to extend their term further but are finding their age a barrier to lenders. Our Older Borrower range allows customers aged 55 and over the opportunity to extend their existing interest only mortgage into retirement with some customers taking their mortgage up to the age of 91.
How does it work?
- It offers an alternative to equity release and allows you to make monthly mortgage payments to pay off the interest only.
- Available to clients where primary applicant is over the age of 55.
- Downsizing is accepted as a repayment vehicle.
Interest Only Products available in our Older Borrower mortgage range:
- 2 and 3 year fixed and discount products available
- Up to 60% LTV
- £0 booking fee
- £998 arrangement fee which can be added to the mortgage
- Discount rates starting from 2.29%
Get in touch
For more information, get in touch with our Intermediary Support Team on 01282 440583 or click here to visit our website here.
