Retirement Mortgages

 

 

Mortgages

Developments in the mortgage industry mean that later life mortgages such as equity release are becoming more and more popular.

We provide advice on the most suitable for your requirements, whether this be fixed, variable, capped or discounted. Other features such as offset accounts will also be considered.

Howard Wright will be remunerated from the mortgage provider which is usually 0.3% of the loan amount. For example, a Mortgage of £150,000 would result in a fee of £450 from the lender. The costs will be confirmed to you before any business is transacted.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Equity Release

Equity release is a product which allows individuals to unlock some of the equity within their property, usually to assist with covering expenditure shortfalls in retirement.

Usually no monthly payments are required, though interest will increase the outstanding debt each year. Both retirement interest only and equity release mortgages are usually repaid when you sell your property, move into long term care or pass away.

We have advisers who are fully qualified to help you in deciding whether these mortgages are appropriate for you and if so, we have the sourcing systems in place to recommend the most suitable product.

Howard Wright charge a fixed fee of £3,000 for Equity Release advice.
This is a lifetime mortgage (home reversion scheme). To understand the features and risks, please ask us for a personalised illustration.

 

Retirement Interest Only

Retirement interest only mortgages, allow you to keep your interest only mortgage into retirement as long as you can afford the monthly payments.

Your circumstances may mean that you have not been able to clear debt prior to retiring and as such these can provide valuable breathing space, without having to sell your home.

Your home may be repossessed if you do not keep up repayments on your mortgage.

What to do next?

To discuss your Mortgage options with one of our Chartered Advisers, you can call us on 0345 688 4939 or fill in our enquiry form below, it only takes 20 seconds to complete.

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