Pension Loans

Tag: Retirement Interest-Only

  • Time to Rethink Lifetime Mortgages? A New Approach for Later Life Lending

    A recent discussion highlights a possible shift in how brokers could approach lifetime mortgages to ensure consumers are not only informed but protected. This fresh perspective calls for a deeper examination of customers’ financial situations, advocating for a practice that might seem obvious yet is often overlooked: considering income in lifetime mortgage recommendations. Edward Payne,…

  • LiveMore Cuts Lifetime Mortgage Rates

    LiveMore, a leading provider of later life lending, has announced a reduction in its mortgage rates. The company has trimmed rates across all its later life mortgage products, including retirement interest-only (RIO) mortgages, which have seen a reduction of 0.25%. This adjustment is poised to make a considerable difference for retirees looking to manage their…

  • Getting Out of the Mortgage Maze at 69 – Options for Interest-Only Loans

    Many find themselves facing financial uncertainties as they approach retirement. The Daily Mail answers a question from an individual, aged 69, grappling with a £60k interest-only mortgage, a common scenario for those who’ve had to make tough decisions during challenging times. If you’re in a similar boat, understanding your options can be the first step…

  • Unlocking Your Home’s Wealth – Options Beyond Equity Release

    Looking for financial flexibility during our golden years, many homeowners over 55 have turned to equity release as a go-to solution. It’s an appealing way to tap into the value of your home while you continue to live in it. However, it’s not the only path to unlocking your home’s wealth. The market is evolving,…

  • Key Introduces Payment Term Lifetime Mortgage

    Key Later Life Finance has unveiled a new financial product designed to offer older homeowners a more flexible and advantageous way to access the equity tied up in their homes. Dubbed the “payment term lifetime mortgage,” this innovative offering stands out by allowing for higher loan-to-value (LTV) ratios and providing enhanced flexibility compared to traditional…

  • Can a Parent Remortgage to Help Their Child Buy a House?

    Many parents are pondering over ways to help their children step onto the property ladder. One such story features in the Daily Mail, where a father keen on making their daughter’s home-ownership dream a reality, asks for advice about remortgaging his house. A parent, owning a home valued at around £600,000 outright and with the…

  • UK’s Older Borrowers Face Mortgage Meltdown

    The UK has witnessed a significant decline in mortgage lending to older borrowers, notably those over the age of 55. This group has been particularly hard-hit by an affordability crisis, spurred on by soaring interest rates and escalating house prices, leading to a substantial decrease in the number of new mortgages being taken out. A…

  • Perenna Launches RIO Mortgage for Over 50s

    Perenna, a digital mortgage lender, has rolled out a novel financial solution aimed squarely at the over-50 crowd. This new offering, a Retirement Interest-Only (RIO) mortgage, promises borrower-friendly terms and innovative structure. Key Features of the RIO Mortgage Expanding Choices for Mature Borrowers Beyond the RIO mortgage, Perenna has broadened its offerings to include an…

  • Hanley’s New No-Fee Retirement Mortgage

    Hanley Economic Building Society has unveiled a new no-fee retirement interest-only (RIO) mortgage, designed to make later-life lending more accessible and affordable. This innovative product comes without early repayment charges (ERCs) and lifts restrictions on overpayments, offering unprecedented freedom for borrowers. A Helping Hand for Retirees Understanding the unique challenges faced by borrowers in their…

  • Securing a Mortgage at 65 – A Guide for Older Homebuyers

    Are you over 60 and dreaming of buying your own home? You’re not alone. Many older individuals wonder if they can secure a mortgage, especially if they’re nearing or past retirement age. The Daily Mail looked at the case of a 65-year-old who has been renting for years and recently received an inheritance. With an…