LATER LIFE LENDING
Later life lending provides financial solutions tailored to older homeowners, typically those aged 55 and over.
Later life lending mortgages include options like equity release, lifetime mortgages, and retirement interest-only (RIO) mortgages, allowing homeowners to access the equity in their property or manage their finances during retirement. At Oundle and Stamford Mortgages, we’ll guide you through each of your options to help you make an informed decision.
Who is Later Life Lending for?
Later life lending is designed for:
Homeowners aged 55 and over:
Looking to access equity in their property.
Those considering retirement income:
Needing to supplement their pension or retirement savings.
Homeowners seeking financial flexibility:
Managing ongoing costs, consolidating debts, or funding large purchases such as home renovations.
Learn more about eligibility requirements on our blog.
Benefits and Considerations
Benefits:
Access to Equity: Unlock the value of your home without needing to sell.
Flexible Options: Choose between lump-sum payments or drawdown facilities to suit your needs.
No Monthly Payments (for Lifetime Mortgages): Most products don’t require monthly repayments, reducing financial strain.
Considerations:
Impact on Inheritance: Equity release may reduce the value passed on to beneficiaries.
Long-Term Costs: Interest can compound over time, so it’s essential to fully understand the product.
Eligibility: Factors like age, property value, and condition may affect your options.
Our Approach
Later life lending can be complex, which is why we offer tailored advice to ensure your financial and personal goals are met.
We work with trusted partners, including Viva Retirement Solutions, who are authorised to provide equity release advice. All equity release cases are arranged via induction only, ensuring you receive specialist guidance tailored to your needs.
Explore our guide to equity release for a deeper understanding.
faq
Later Life Lending
Properties must meet lender criteria, including minimum valuations and conditions. We’ll help you determine if your home qualifies.
Some products offer early repayment options, though fees may apply. We’ll guide you through the terms of each lender.
The amount left to beneficiaries may decrease depending on the product. We’ll help you explore ways to mitigate the impact.
Considering later life lending? Contact us today for personalised advice tailored to your needs.
A lifetime mortgage is a long-term commitment which could accumulate interest and is secured against your home. Equity release is not right for everyone and may reduce the value of your estate. Equity Release and Lifetime Mortgages are arranged by a third party introduction.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Oundle and Stamford Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. You can find Stonebridge Mortgage Solutions Ltd on the FCA register by clicking here. Oundle and Stamford Mortgage Services Ltd is entered on the Financial Services Register under firm reference number 842633. Registered Office: Oundle and Stamford Mortgage Services Ltd., 2a New Street, Oundle, PE8 4EA. Registered Company Number: 11811100. Registered in England and Wales.
Please note: Your home may be repossessed if you do not keep up repayments on your mortgage. You may have to pay an early repayment charge to your existing lender if you remortgage. As with all insurance policies, conditions and exclusions will apply. Not all Buy to Let Mortgages are regulated by The Financial Conduct Authority.