Retirement Mortgages

These are loans secured against your property that commence either prior to your retirement and continue into retirement, or whilst in retirement. 

 

They are designed to help older borrowers who may struggle to obtain a standard residential mortgage. They allow them to borrow against their property, only paying back the interest and not the loan itself. They are usually available to the over 55’s.

 

Generally speaking the loan is repaid when you sell the property, die or move into residential care.

 

You only have to prove you can afford the monthly interest repayments.