Tag: lending into retirement
Members of the Air Mortgage Club will now be able to access H&R for Intermediaries’ range of mortgage products for later life customers including its Retirement Interest Only (RIO) product.
Mortgage experts say broker demand is booming for new deals for their later life customers.
SIPP income will now be taken into account for lending decisions whilst there will also be changes to the society’s buy-to-let and remortgage policies.
The Mortgage Lender lends to a range of borrowers including employed, self-employed, those with impaired credit, lending into retirement and buy-to-let investors.
The FCA continues to talk ahead of publishing its Ageing Population Strategy in the summer, but I hope that is not seen as an endpoint.
Previously earnings could only be used up to the state retirement age, but borrowers now have the option of declaring an intention to work beyond the pension age up to 70.
OneFamily has revealed plans to enter the lifetime mortgage market during the first half of 2016 and has appointed former Stonehaven chief executive Georgina Smith to head up the business.
Brian Beach, research fellow of the International Longevity Centre, considers the attitudes, aspirations and housing needs of older people.