We don't arrange mortgages ourselves. When you get in touch, we pass your details to one of the mortgage brokers we work with, and they take it from there, right through to completion.
Sound familiar?
- Your interest-only mortgage is ending and you're not sure how you'll pay it off
- Your mortgage runs past the age you plan to retire
- You're worried about keeping up payments once your income drops
- You'd like to remortgage, or borrow a bit more, later in life
The earlier you look at it, the more choice you're likely to have.
What the options might be
It depends on your age, your income, your home and what you'd like to happen to it. A broker will go through it all with you, but the main options tend to be:
- Remortgaging, possibly over a longer term that fits your retirement income.
- A retirement interest-only mortgage. You pay the interest each month, and the loan is usually paid off when the home is sold, for example after you die or move into long-term care.
- A lifetime mortgage, which is a type of equity release. You borrow against your home, and the loan plus interest is usually repaid in the same way.
Could your home help your family buy theirs?
Some people use the value tied up in their home to help children or grandchildren with a deposit. There's more than one way to do it, and each has costs and risks. Borrowing against your home can mean leaving less behind, and it can affect means-tested benefits. A broker can talk it through with you and help you work out whether it makes sense.
How it works
- Fill in a short form. It only asks a few questions.
- A broker gives you a call. They'll want to understand your situation, and they'll tell you upfront how they're paid and whether there's a fee.
- If you want to go ahead, they do the legwork. The advice, the application and getting it over the line are all handled by them.
Questions
Am I too old to get a mortgage?
Not necessarily. Every lender sets its own age limits, and some will lend well into retirement. A broker will know which ones might consider you.
Do you give mortgage advice yourselves?
No. We're not authorised by the Financial Conduct Authority, so we can't. Any advice you get comes from the broker.
Does it cost anything to get in touch?
No. If the broker charges a fee, they'll tell you before you agree to anything.
Do you get paid for this?
Yes. If you take out a mortgage through one of our mortgage partners, we get a share of the fee the lender pays them.
What happens to my details?
We keep a record of your enquiry and pass your details to the broker so they can contact you. Our privacy policy has the full details.