Retirement Interest-Only Mortgages
If you would like to find a manageable way of borrowing money in later life, without accumulating interest to be paid in the future, a retirement interest-only mortgage may provide the solution for you.
Expert Mortgage Advisors
Available for those over 55 years old, retirement interest-only mortgages offer borrowers an affordable lending solution to help them meet their later-life needs. Instead of having nothing to repay until you sell the property once you die or move into long-term care like with lifetime mortgages, those with retirement interest-only mortgages will only have to pay the debt capital once they sell the property. To facilitate this, borrowers pay the interest of their mortgage deal each month, leaving only the actual remaining value of the mortgage to be paid off in the future.
Appropriate, affordable mortgage options
Whatever your financial aspirations, the cash generated from a retirement interest-only mortgage can be spent however you wish. Whether you want to purchase your dream holiday, afford home improvements or simply get on top of your monthly bills, the potential money saved each month could help to afford your financial aspirations.
Impartial financial guidance
If you are unsure whether a retirement interest-only mortgage is suitable for you, you should seek later life lending advice from Rosewood Wealth Management. By getting to know you and your unique circumstances, we can determine whether a retirement interest-only mortgage would help you achieve your personal and financial objectives.
Interested in a retirement interest-only mortgage?
Contact Rosewood today.
Your home may be repossessed if you do not keep up the repayments on your mortgage.
F.A.Q.s
Frequently asked questions
Do I need to be retired to have a retirement interest-only mortgage?
You do not need to be retired to have a retirement interest-only mortgage. However, you do have to be at least 55 years old.
Can I pay back my retirement interest-only mortgage early?
Although you do not have to pay off the debt capital of your mortgage until you go into long-term care or pass away, most retirement interest-only mortgages offer you the flexibility to make voluntary repayments. However, it is important to check with your Rosewood advisor first as, depending on the specific terms of your mortgage, doing so may result in early repayment charges.
How do I secure the best retirement interest-only mortgage?
An Independent Financial Advisor from Rosewood can assess your specific circumstances to recommend the most suitable product for you. With access to an extensive range of lenders and products, our advisors are able to find specialist mortgage deals tailored to meet your unique needs. Guiding you through the entire process, our advisors are always on hand to answer any questions or concerns you may have.
Curious about your later life lending options
As a Society Of Later Life Advisers (SOLLA) accredited company, Rosewood’s in-house later-life lending experts offer cutting-edge solutions to help you meet your future lending goals.