Do I qualify for a Mortgage when I am over 65?

An increasing number of homeowners are nearing the end of the mortgage term with their current lender but are looking for a way to extend or even increase their mortgage.

You may have taken an interest-only mortgage many years ago, assuming you would downsize and buy a cheaper property in the future, only to find that there is not enough equity in your home to do this now.

Perhaps your children will need to continue to live with Mum and Dad for the foreseeable future, and you need a larger property for longer to accommodate everyone.

Or you may have to financially support your children leaving home and need to borrow extra to help with their deposit and home moving costs.

There are plenty of reasons why any of us will need to take a mortgage in our later years, but traditional high-street mortgage lenders may not be able to help. Many will look at your age and your current income and will want your mortgage repaid around your State Retirement age, making repayments expensive in the short term and simply unaffordable.

Fortunately, There’s a Solution. 

Whatever your reason for considering a mortgage later in life, it is important to find the right solution for your situation. That’s where we can help.

At EHF Mortgages, we specialise in helping older clients like you find the right mortgage from a range of retirement-specific schemes specially created for those who are 60 and over.

We work with every mortgage lender that offers these Retirement Mortgage schemes, such as Retirement Interest Only (RIO) and Lifetime Mortgages. This gives us unparalleled access to the full range of mortgage products specifically tailored to meet your requirements now and into the future.

And you don’t have to worry about your age or what your income may be, as many of the schemes allow for a more generous assessment of your affordability and allow for your retirement income to be taken into consideration, too.

Through our relationships with these specialist retirement lenders, we can help secure the lowest-cost mortgage solution for any purpose, which can include the repayment of existing finance or loans, significantly reducing your monthly outgoings, as well as those one-off purchases you always wanted in retirement. And if you want to help your children onto the property ladder, you can look to do this now.

We can meet in the comfort of your home, at our office, or online, whatever is easier for you and your family. By utilising a dedicated network of support staff to help with all your enquiries, we can ensure that your case is presented in the best possible way for acceptance, securing the best terms and a tailored solution that works for you. 

At EHF Mortgages, we don’t stop there. Our clients benefit from our expert advice on specialist insurance, wills and trusts, ensuring your finances are in better shape, with more security for your estate and future.

To learn about how we can help you use your home to improve your retirement income and financial planning whilst protecting your home and future legacy, fill out our simple enquiry form or call us at 01245 398466 to schedule a free, no-obligation meeting with one of our retirement specialist advisers.