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
3.95% which includes a 1.25% discount from our standard variable rate for 5 years followed by our standard variable rate for the remainder of the term, currently 5.20%.
No arrangement fee is payable.
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
To qualify for this discounted product the borrower must have a Property and Financial Affairs Lasting Power of Attorney (LPA) registered with the Office of the Public Guardian. If you don’t have this then we have another product available with a reduced discount.