There are many retirement mortgage products that are now aimed specifically at those who are either in retirement or approaching retirement looking to either release equity, purchase or remortgage a property.
Most high street lenders tend not to lend at the age of 70, however, there are many retirement mortgage lenders now that will take a far more understanding approach and will be able to lend well into retirement, as long as they can see mortgage commitments are able to be met. So you can easily find a mortgage in retirement.
With a continued increase in life expectancy in the United Kingdom, as well as a growing population requiring more products for later life and retirement, mortgage lenders have risen to the challenge and are now able to offer a variety of products including retirement interest-only mortgages, mortgages that go beyond the age of retirement as well as equity release products. All suitable for those borrowing into retirement.
Weystone Financial is proud to offer an exceptional retirement mortgage service for clients wanting to borrow into retirement.