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Mortgages into later life


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Mortgages for over 50s and retired borrowers

We don't have a maximum age limit on any of our products but if you have clients who are 50+ we have a range of products especially tailored for borrowing into later life. We offer terms from 5 to 40 years, use a specialist retirement ONS calculator, have 6 different interest only options to choose from and we'll consider employed and self employed (non manual) income up to age 75.

Later Life 2.25% 2 Year Discount Rate 75% LTV

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Fees
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  • VARIABLE RATE of 5.24% with a discount of 2.99% for 2 years from completion, then reverting to 3.50% (Ipswich SVR minus 1.74%) for 36 months then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.1% APRC
  • For purchase and remortgage up to 75% LTV
  • Exclusively for borrowers aged 50 or over

11122, 67174

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£500 £199 Purchase: based on property valuation. Remortgage: FREE - £35 £750k

Unlimited fee-free overpayments
No early repayment charge

For remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

Later Life 2.50% 2 Year Fixed Rate 75% LTV

About
Fees
Apply
  • FIXED RATE of 2.50% until 31/12/2022 then reverting to 3.50% (Ipswich SVR minus 1.74%) until 31/03/2026 then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.2% APRC
  • For purchase and remortgage up to 75% LTV
  • Exclusively for borrowers aged 50 or over

15235, 72326

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£500 £199 Purchase: based on property valuation. Remortgage: FREE - £35 £750k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 31/12/2022
Overpayment of 50% or above - Early repayment charge is 3% of the overpayment
Redemption - Early repayment charge is 3% of the original loan amount

For remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

Later Life 2.80% 5 Year Fixed Rate 75% LTV

About
Fees
Apply
  • FIXED RATE of 2.80% until 5 years from completion date, then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.2% APRC
  • For purchase and remortgage up to 75% LTV
  • Exclusively for borrowers aged 50 or over

15226, 72318

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£500 £199 Purchase: based on property valuation. Remortgage: FREE £35 £750k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 5 years from completion date
Overpayment of 50% or above - Early repayment charge is 5% of the overpayment
Redemption - Early repayment charge is 5% of the original loan amount

Remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

 

 

 

 

Click here to view our handy guide to later life and RIO mortgages.

Key features of our later life mortgages

  • Exclusively available for borrowers aged 50 or more, or joint applications where at least one applicant is 50+
  • Loans up to 75% LTV for a maximum £750,000 advance
  • For clients that are already retired, maximum LTV of 70% for capital and interest mortgages, and a maximum LTV of 50% for interest only mortgage (regardless of repayment method)
  • All deals feature fee free overpayments up to 50% of original loan amount
  • Interest only up to 50% LTV provided there is at least £150k equity in the property
  • 5 - 40 year term
  • No maximum age limit
  • Minimum income of £20,000
  • Retirement ONS calculator used
  • For working applicants we accept self employed manual or employed income to age 70 (or declared pension age if lower) or self employed non-manual income to age 75.
  • Capital raising considered
  • 100% of pension income and 75% of investment income accepted when assessing affordability
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