Have you ever wondered what the age limit is for our mortgages? While age may be a factor in your customer’s mortgage application, it is by no means a barrier. In today’s email, we have a real-life case study to illustrate how our flexible approach could help you provide solutions for customers aged 60+ seeking capital.
Mr & Mrs Robertson, a couple in their early 60s, were looking to raise capital on their home to pay off some outstanding debt and gift money to their children. They wanted to avoid taking a lump sum of money out of their pension pots as they were looking forward to retirement. However, they were struggling to find a lender due to a couple of small defaults they had registered during Covid, which were under £300.
At Bluestone, we can lend up to a maximum age of 80 without proof of pension, provided the customers are in a non-manual job. In the case of Mr & Mrs Robertson, we could also ignore the defaults they had registered as they were under £300. This allowed them to borrow up to 85% LTV and pay off their outstanding debts while also providing gifts to their children without having to rely on their pension pots.
If you’re wondering how you can serve a growing market of adverse cases but aren’t sure where to start – we can help. With times being tough for many people, we will work together to ensure your complex cases are packaged correctly, quality support is provided and the best possible client outcome is delivered. Give us a call on 0800 368 1833, or alternatively request a call back here.
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