Mortgage After Retirement

Published / Last Updated on 25/04/2014

We are required to make sure any mortgage we advise on is suitable and affordable.Most people who are retired are only living on pension income and so the risk of affordability applies.Most lenders may not be happy to offer a new mortgage to over 65’s.Some lenders may offer equity release type schemes such as a retirement mortgage (interest only) with affordability tests or lifetime mortgage (interest roll up) and home reversion (partial property sale)

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