Our Retirement mortgages are aimed to meet the unique needs of older borrowers that are either looking to release equity or move home. Instead of having a fixed end date, if necessary the amount borrowed can be paid back from the sale of the property when the borrower dies or moves into alternative accommodation such as long term care. During the term of the mortgage the borrower is responsible for meeting the monthly payments which can be interest only or capital & interest repayment.
Important Things to Consider
Frequently Asked Questions
A lower rate product is available for applicants that have registered a Lasting Power of Attorney (LPA).
4.70% which includes a 0.50% discount from our standard variable rate for 5 years followed by our standard variable rate for the remainder of the term, currently 5.20%.
Early Repayment Charge
There are no early repayment charges.
No arrangement fee applies.
A valuation fee is payable. This amount varies depending upon the value of the property. Click here for our latest valuation fee scale.
For a comprehensive list of other fees and charges that may apply to you as a mortgage customer, click here.
Minimum age of applicant: 55
Minimum term: 5 years
Minimum loan size: £25,000
Property location: England & Wales
A lower rate product
is available for applicants that have registered a Property and Financial Affairs Lasting Power of Attorney (LPA
). If you do not have an LPA
now but subsequently register one after completing this mortgage then let us know as a fee free product switch can be made. Evidence that the LPA
has been registered will be required in this scenario.