MORTGAGES FOR LATER LIFE
It can be tough getting a mortgage if you are 50+ (but read on to for good news…)
Since the credit crisis and the introduction of the Mortgage Market Review (MMR) in April 2014, it has become a lot tougher to obtain a mortgage if you are over a certain age and we mean around 50+. The MMR placed a lot more emphasis on lenders to take a much closer view on the income and outgoings of applicants.
Quite a number of these people have “interest-only” mortgages and are now coming to the end of their term where the lender requires the capital to be repaid and may need a mortgage to help do this.
Finance4homes work with lenders who consider older people for mortgages
We have lenders that take a flexible approach to mortgages for older people and will consider a mortgage based on earned income to age 75 (where applicants plan to work to that age) and to 85+ if the affordability of the mortgage can be based upon a pension, rental or investment income.
If anyone can help you get a mortgage at 50+, Finance4Homes can
All applications are underwritten on an individual basis and quite often, manually, so you will be treated as individuals. However, you should be aware that a mortgage may not be available in all cases but we will certainly have a really good try.
Call us today on 020 3002 0933 to find out more.
FILL OUT THE FORM BELOW AND A MEMBER OF OUR TEAM WILL CALL YOU BACK