What options are available to this audience?
The older borrower market is growing fast yet their access to products can be limited. The Marsden offers conventional mortgages for those approaching or in retirement that are an alternative to equity release or for some, a ladder to support equity release in the future. Here are some of their options:
How can we help?
Our Older Borrower range is built specifically for a 55+ audience meaning our products and criteria are tailored specifically for their needs.
Eligibility
- Applicants aged 55+
- Income is based on Pension, Investments and Property – a percentage of property income can be used to support affordability
- We can also accept earned and Self-employed income up to age 75
- Minimum property valuations from £150,000
- Property must be main residence
Features
- Minimum loan £30,000
- Interest only up to 60% and repayment up to 70% LTV
- If the loan is on interest only, affordability is stressed on interest only.
- Downsizing accepted as a repayment vehicle
- Fixed and discounted rates available
- Available for remortgages, purchase and unencumbered applications, to include additional borrowing if required
- Spend the money released from the home on whatever you choose*
- Early Repayment Charges for only 2, 3 or 5 years – product dependent
Right Mortgage Network
Your BDM, Tina Panayi
Telephone: 07970328045
Email: k.panayi@themarsden.co.uk
Tina has over 19 years of financial services experience and has worked for the likes of Halifax, Bank of Scotland and BM Solutions. Give Tina a call and pick her brains on our products and criteria or run a case by her to see if we can help.
Or get in touch with our Intermediary Support Team on
01282 440583*
