Homeowners Options for the over 70s Equity Release with no monthly payments

Homeowner options for the over 70s. Once you reach age of 70 your loan options begin to change. 

That is not to say that it is impossible to obtain a loan if you are over this age limit, but it is worth understanding how age can affect borrowing. While most lenders impose maximum age caps we do not. 

Downsizing and investment plan: This option is available to our clients aged 70 and over. A property with a large amount of equity is of no practical use to a homeowner if they cannot afford to live the remainder of their life in relative comfort. You should look at this option as downsizing your home to upgrade your life.

By selling your current home and moving to a more suitable property you can achieve your aims and secure your financial future. Why struggle financially when you have better alternatives available to you. 

Lifetime Mortgage: You should look at this option as updating your income to upgrade your life. This is a popular plan and is available to all homeowners aged seventy and over. 

The criteria for the loan you require is based solely on the equity available in your property.  You can also stay in your current home for the remainder of your life without making any repayments.

There are no affordability calculations, age considerations, no credit checks required and no monthly payments to make. We offer flexible loan terms to suit all applicants. 

Loans are available from minimum £100,000 up to £10M. We can normally complete these transactions on a time scale to suit your needs. There are numerous advantages to taking out a Lifetime mortgage contact us now to find out more.