Later Life Lending

As you approach retirement age or maybe even now in reitrement, you may be looking for ways to access the equity in your home to fund your retirement, make home improvements or help children, grandchildren with their finances. Later life lending can be a useful tool for homeowners who want to release equity in their property without having to sell it. At M Walker Mortgage Specialist, we offer a range of later life lending products to help homeowners in later life achieve their financial goals. 

One later life lending option is a lifetime mortgage. This type of mortgage allows you to borrow money against the value of your home, with interest added to the loan balance. You don't have to make any repayments until the property is sold, either when you pass away or move into long-term care. The loan is repaid from the proceeds of the sale, with any remaining equity going to your heirs.

Another option is a retirement interest-only (RIO) mortgage. This type of mortgage allows you to make interest-only repayments each month, without having to repay the loan itself. The loan is repaid when the property is sold, either when you pass away or move into long-term care. RIO mortgages can be a useful option for homeowners who want to maintain control over their property, while also accessing the equity in their home.

At M Walker Mortgage Specialist, we understand that later life lending can be a complex area, and that's why we offer personalised service to help you make the right decision for your individual circumstances. Contact us today to find out how we can help you with later life lending through our preferred partners.