The latest update from Family Building Society can be found here. Remember, we are able to package on a fees free basis for Family Building Society and also offer support to brokers who wish to deal directly via our mortgage club. Further details are available across our website. Full details of product range here.
As one of my valued brokers I will be sending out our USP’s and tips on how to use us over the coming months. I will pick a new subject area each time. If you have any questions on any of the information just drop me an email or give me a call on 07951 920558. Always happy to catch up over a local coffee too!
We will start with this one…
When I speak to new brokers, one of the most common things I hear is ‘Wow! I didn’t know you did that!’
Lending to borrowers in later life with complicated income streams isn’t always straight forward, but being able to look at each application on a case-by-case basis makes a huge difference.
With our manual underwriting approach, generous lending criteria and innovative products – we strive to find a way to lend to your clients.
We take great pride in how we do things, and it works.
How can we help?
- We take into account earned income up to the age of 70, or even 75 if the client is in a non-manual role
- Other income can be considered on a case-by-case basis, such as:
– Up to 90% of investments or pension pots (divided by the mortgage term chosen by you/client)
– State and private pensions
– Rental income
– Stocks and shares ISAs
– Remuneration drawn by limited company directors (where the applicant is not actively running the day-to-day business operation). - We lend in retirement with higher maximum ages than most lenders:
– Owner Occupier repayment mortgages, up to a maximum age of 95 at the end of term
– Owner Occupier Interest-Only and Buy to Let mortgages, up to a maximum age of 89 when the loan commences. - No Minimum Income or Equity required on all Interest Only residential lending.
- We have a common sense approach to lending and use human beings, not robots, to underwrite each case. This means we can tailor our solutions to each of your clients’ needs.
Why not take a look at our later life lending offering?