In the current climate, it is a challenge to secure the most competitive mortgages, particularly if you’re a pensioner. A number of lenders restrict the best deals to certain age groups, but there remains some good options out there. Typically we assist clients over the age of 60 who have undertaken their homework and tell us of their frustration, given there a far fewer lenders and even less products. They may have been with their bank for many years, but they are refusing to lend. They say they are surprised, sometimes annoyed, that despite having a good deposit or equity in their home, guaranteed income in pensions, they are struggling to finance, solely due to their age.
It is true, that mortgage lending criteria on a borrower’s age, their income and even the type of mortgage, such as repayment and interest only has all severely tightened.
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At age 74 the mortgage must have been difficult, but it went through more smoothly than any other mortgage.
Rex Harris, Edgware
There remains however a good number of long established lenders willing to provide competitive rates to more mature borrowers, deeming them to be a far lower lending risk.
As you would expect with an award winning company, all our finance is arranged through fully authorised, regulated mortgage lenders, whom can offer Capital Fortune, exclusive products and rates. Some are specifically designed for those aged over 60.
After 47 years with my Bank they let me down when I needed them most. You said you could do it and you did.
We have been voted the Overall Adviser of the Year for the largest UK mortgage and protection network, two years in a row and have recently won a national industry award for Excellence in Treating Customers Fairly. A number of our clients watched us on BBC TV Newsnight and supported our shortlist nomination for Best Broker Prime and Best UK Mortgage Adviser at the prestigious Money Marketing Financial Services Awards and British Mortgage Awards respectively.
There are three stages to our award winning process:
|Typically clients using the service, tell us they want to discuss their current situation and take us through any difficulties they may have. We can quickly give an indication as to the feasibility of what they are looking to do, undertake detailed research on the potential rates, confirm we can safely assist and importantly, express how we operate.
||Approval in Principle
|This stage involves completing a 45 minute Mortgage Fact Find questionnaire over the phone to fully assess needs and requirements. Once complete, we undertake research across a comprehensive panel of lenders to recommend the right mortgage. A detailed illustration is provided which we will take you through. If you are happy with the illustration we will then request documents from you to support the application. On receipt of the documents we will obtain formal approval in principle from the lender.
|We will process your full mortgage application and liaise directly with the lender on your behalf. We organise the valuation and deal with any issues that may arise during the mortgage application.
We still appreciate however, we are not right for everyone and typically we best assist clients
- With non-standard/non-traditional requirements;
- That are time pressed and need the most competitive and quick
- That just need an independent guiding hand through the minefield of products to obtain them the most competitive deal and to assist them through all the complexities within the mortgage process.
We pride ourselves on delivering advice which is accurate, tailored to your situation and fully compliant with Financial Conduct Authority (FCA) guidelines and best practice.
For help and assistance, call us today on 0207 710 0400 to speak to one of our Mortgage Advisers.