We’re making changes to residential and later life borrowing
Residential and later life
We’re champions of later life lending, which is why we’re now merging our residential and later life borrowing ranges into one set of products. That’s right, our standard residential range will now be available for our later life customers too.
We are removing our current later life products. DIPs on withdrawn later life products will be accepted until 5pm on Wednesday 12 May. All DIPs received prior to the deadline will be honoured and no deadline is set for subsequent fully packaged applications.
Here’s what you need to know:
- No maximum age for repayment mortgages, max 95 on interest only
- Retaining an option for our popular ERC-free 2-year discount but with a minimum age of 55 at application
- Max 75% LTV for applicants borrowing into retirement, or 70% LTV for applicants in retirement
This is a continuation of our commitment to older borrowers, so if you’ve got clients looking to purchase a new property, sale & downsize, or remortgage to free up capital in their home, get in touch to discuss your case.
We’re launching NEW products for interest only clients up to 80% LTV:
- 2 year discount @ 2.70%
- 2 year fixed @ 3.00%
- 5 year fixed @ 3.35%
- 2 year discount no ERC @ 2.99% (minimum age 55)
Our minimum loan size is increasing to £50,000 across our residential product range