Select Page

Over 55s Interest Only

Home » Mortgages » Equity Release » Over 55s Interest Only

Interest-only residential mortgages are becoming more popular, as they enable home owners to reduce outgoings on later-life house purchases or to raise funds based on the equity in their property for a variety of purposes (e.g. to gift funds to children for their own house purchases).

Downsizing is a valid repayment method for the capital at the end of the term to applicants aged over 55.

Here is a summary of this type of product:

  • Available to applicants between ages of 55 – 85.
  • Loan terms from 5 years up to the youngest borrower’s 95th birthday.
  • Acceptable repayment vehicles include downsizing, sale of other UK properties or investments.
  • Salary, self-employed, pensions, investments and rental incomes are all acceptable for affordability assessment.
  • Loans available for purchase, capital raising and remortgage, from £20,000 – £500,000.
  • Please note this product is currently available in England and Wales only.
  • This is not an Equity Release product.

NB: All mortgage products are subject to change, credit checks and a property valuation.

Contact us to discuss this product and ask us any questions

We can visit you

Let us know when is convenient to call round

You can visit us

Come to see us in Cambridge, we have parking

We can call you

Arrange to discuss everything over the phone

We are proud to be members of these organisations

ERCNACFBLLANSA