Later Life Mortgages Advice

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It’s a common misconception that once you retire, you can no longer get a mortgage. However, this simply isn’t the case! There are plenty of mortgage options available for pensioners, and with the right advice, you can still achieve your homeownership dreams.

  • Our team of mortgage experts have years of experience helping pensioners secure the best mortgage deals available.
  • We’ll work with you to find a mortgage that fits your retirement budget, and help you through the application process every step of the way.
  • As well as being regulated by the Financial Conduct Authority (FCA), we are also a member of the Equity Release Council (ERC) this means they have agreed to adhere to a strict code of conduct.


Why use a qualified mortgage adviser if you’re looking for mortgages for pensioners?

As a pensioner, there are a few things you need to know about taking out a mortgage. First of all, you’ll need to make sure that you can afford the repayments. This means taking into account your other income and outgoings, as well as the value of your property and the amount you want to borrow.

It’s also important to shop around and compare different mortgage deals before you make a decision. A qualified mortgage adviser can help you do this, and they will also be able to offer impartial advice on the best option for your retirement.

Finally, make sure you understand the implications of taking out a mortgage. For example, if you opt for an interest-only mortgage, you’ll need to have a plan in place to repay the debt at the end of the term.

If you’re thinking of taking out a mortgage as a pensioner, we can help. We can search the whole of the market to find the best deals for you, and we’ll also offer impartial advice on the best option for your retirement. Contact us today to find out more.

Case Study

Retired couple - Equity release

We met a lovely couple in their late eighties who wanted us to help them acquire the financing they needed for a ground floor apartment from their present four-bedroom home.

Mrs & Mrs S had just sold their house and discovered the ideal flat for them, but they’d already taken out an equity release on their current home to assist with care expenses for one of their sons’ long-term care needs.

They required assistance in identifying and securing a new equity release mortgage that would allow them to move into the flat that was better suited to their needs.

  • Due to changes in their present provider’s policy and criteria, as well as a lower value of the flat compared to their existing house, our clients were unable to take their existing equity release from the house to the flat.
  • Mr and Mrs W had no cash savings or assets to draw on because of the expenses associated with their son’s long term care needs.
  • Mrs S were finding it more difficult to climb the steps at home, and other mortgage advisers appeared unwilling to assist them as this was a complicated situation that would involve a lot of effort. 

Case Study

How we helped

One of the joys of our work is getting to know fascinating people like Mr & Mrs S, who were more than willing for us to engage with them and, more significantly, their families. This meant that everyone was on the same page and seeking a solution that would be in the best interests of Mr & Mrs S.

We spoke with the clients at length to obtain a complete understanding of their position, and despite how terrible their situation was, we felt we could find a solution for them.

As well as having access to the whole of market we are qualified to provide equity release advice to our clients. We reached out to a range of lenders, having conversations with our contacts about the position our clients were in and if they could help – eventually we landed on one potential option!

Due to the complexities involved, two equity release lenders and the location and type of flat being purchased we liaised between the lenders, estate agents, solicitors and clients for almost a month – we didn’t want our clients to struggle with this on their own.

Finally, after 20 days of searching, we were able to obtain the Equity Release offer our clients needed to complete their relocation. Our clients completed their transaction later that month, and they were overjoyed with their new home! We even received a thank you from them!

We work for you, we’ll look for the best solution for your needs and make sure you get the right outcome. Equity Release or later life lending is more complex than standard mortgages and it’s important you speak to a qualified adviser and a member of the Equity Release Council. Give us a call today

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