Later Life Lending

Customers of a certain age very often find that they do not meet the usual high street lending criteria. This is where we can create something known as “Later Life Lending.”

What is Later Life Lending?

This form of lending makes it possible to release the equity in your home or perhaps take out a new mortgage.

Later life lending is about more than just releasing the equity in your home, as it is also possible to still get a conventional mortgage. At Yes Specialist Mortgage Services, we look at all the options available to our clients.

What are the benefits of Later Life Lending?

The vast majority of our clients tell us that they are aware of how far their income will stretch and how they would like to find a way to increase their income.

Later life lending allows you to raise the capital you need, regardless of the purpose. It may be to help your children purchase their first home, or perhaps a means of buying a second home as an investment property. For some, it’s all about having peace of mind and a comfortable retirement.

A few final thoughts on Later Life Lending

In the past, age and affordability assessments made lending choices extremely limited. Product innovation is changing the lending marketplace dramatically, with Later Life Lending at the forefront of these changes.

We are now well aware of mainstream lenders who have changed their later life criteria, including increasing the maximum lending age.

The two main later lending products are:

  • Equity Release
  • Retirement Interest Only
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We need to be honest with you… Your home may be repossessed if you do not keep up repayments on your mortgage.