Aldermore Later Life Lending – up to age 99

Aldermore Later Life Lending – up to age 99

14:06 PM, 15th May 2018, About 6 years ago

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Aldermore are now they’re extending their specialist mortgage products to offering later-life mortgages exclusively distributed via 4 firms.

For borrowers aged up to 99, with a maximum Loan to Value of up to 75% and  some products with no early redemption charges.

Howard Reuben, Principal of our partner firm HD consultants, said: “With my new Lifetime mortgage / Equity Release team now growing too, we are now also focusing on the older borrowers who are struggling to find a solution to replace their (typically interest only) mortgages which are coming to an end.  We have a great panel of solutions for them.”

Their new range features multiple product options, including a 2, 3, 5 and 10 year fixed rates as well as a product with no ERCs and an opportunity to extend repayments up to the age 99.

Aldermore say if you want to treat yourself in your retirement, or get a head start on your inheritance Aldermore have got a mortgage with your name on it.

What Aldermore offer:

  • Capital repayment up to 75% LTV and Interest Only up to 60% LTV
  • Choice of 2,3,5 and 10 year fix
  • 10 year fixed rate with no ERCs after 5 years
  • Variable rate product with no ERCs
  • Sale of property accepted as repayment strategy

The Later Life proposition is initially restricted to equity release advisers only, under the following guidance:

  • Interest-only purpose of loan – house purchase or like-for-like re-mortgage only (no capital raising).
  • Capital and interest (repayment) – loan can be for any purpose including capital raising.

Part interest only and part repayment is not permitted on later life products.

If any of our readers need assistance beyond the standard retirement ages please contact Howard and his team using the contact form below.

Contact Howard Reuben

Mortgages, Commercial and Bridging Finance, Life Insurance, Wills, Trusts and LPA's

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