People who will retire during their mortgage term have often struggled to find a suitable mortgage. Buckinghamshire Building Society has launched their latest product in the area of lending into retirement. A key aspect of this product is that borrowers can use their projected pension income as part of their affordability assessment.
Tim Vigeon, Head of Lending at Buckinghamshire Building Society. “This is another example of where specialist lenders like us can assist this underserved market of older borrowers. With an ageing population this is an excellent opportunity for us as a lender.”
All our cases are individually underwritten by our specialist team.
| Product | Initial Rate | Followed by our Standard Variable Rate (SVR) | Max LTV | Early Repayment Charge (ERC) | The overall cost for comparison is |
| DO01 3 year discount of 1.50% from SVR | 3.49% variable | Currently 4.99% variable for the rest of the term | 60% | 1% in year 1 0.5% in year 2 | 4.5% APRC |
| FO01 fixed rate to 30 November 2020 | 3.89% fixed | Currently 4.99% variable for the rest of the term | 60% | 3% to 30/11/18 2% to 30/11/19 1% to 30/11/20 | 4.8% APRC |
