Thursday, 22 June 2017

Lifetime Mortgage Options

Whether you have an interest-only mortgage coming to the end of its term, or simply want to raise funds for other reasons, a Lifetime Mortgage could be a good solution.

Based only on age and property value, they are not dependent on income or affordability or credit status. Money can be raised for virtually any reason. You can choose to make payments or let the interest roll up. The minimum age for a Lifetime Mortgage is 55. For a couple the youngest has to be at least 55 years old. Note: Any mortgage already on the property must be repaid; it is not possible to have a Lifetime Mortgage in addition to an existing one.

Contact us for quotes or with any questions you may have.

Tuesday, 13 June 2017


“Service is, as ever, unbelievable.”

Mr CE of Crawley

“Very professional and helpful service.”

Mr JG of East Grinstead

Monday, 5 June 2017


“Thank you so much for all your help with these pensions.

We couldn’t have done it without you.”

Mr & Mrs KC of West Sussex

“Friendly and accurate advice.”

Mr AO of East Sussex

Wednesday, 31 May 2017


We have accumulated much experience and expertise over the last 35 plus years which we can

use in providing impartial financial advice and helping to unravel the mysteries of pensions.

We always aim to provide a speedy and efficient service. Here are a few recent client comments:

“I was very happy with the service provided. Already recommended a family member.”

Mrs JA of East Grinstead

Monday, 22 May 2017


One problem that a number of older people face currently is how to pay off their interest only mortgage when it reaches the end of the mortgage term.

The Lifetime Mortgage is helping many in such a situation. The borrowing is based on age and property value only so it avoids many of the obstacles that the majority of lenders throw up. For those 55 and older it is possible to have an interest-only lifetime mortgage which can go on as long as they live. Besides repayment of interest, it is also possible to repay capital – although there may be early repayment penalties. Since this borrowing is based only on age and property value, it can help those who might not otherwise be able to borrow money. It can also provide a potential solution for those who have had an interest-only mortgage which is coming to the end of the mortgage term. Note: A Lifetime Mortgage cannot be arranged in addition to an existing mortgage. Any existing mortgage must be repaid. Lifetime Mortgages range from about 20% of property value for those aged 55 to about 50% for those aged 80. Here is a sample table of the maximum borrowing that may be available (note: in the case of a couple the providers will work on the age of the younger):

Age           % of             Age               % of
                 Property                             Property
                 Value                                  Value

55                20%            70                   40%

60                30%            75                   45%

65                35%            80                   50%

We can provide estimates for you to help with your planning if you feel this approach may suit your circumstances.

Monday, 15 May 2017


At least one out of three first-time buyers are having to rely on assistance from their parents to buy their first property. In most cases this is help with money for the deposit, although in other cases the parents may act as guarantors.

Monday, 8 May 2017


Residential mortgage rates remain very low although the most recent hike in inflation can be taken as a reminder that rates can go up.

It is probably a very good time to lock into a fixed interest rate for 5 years or so which can be as low as 2.0%. Many lenders are also working on making borrowing easier for older borrowers. We can provide rapid assessments of what rates may be available for your circumstances.

The market in purchasing buy-to-let properties has slowed following the hefty increases in Stamp Duty when you buy a second/investment property, and also due to the reduction in tax relief on mortgage interest for higher rate taxpayers. However, rates are also good in this sector for those reaching the end of a mortgage term on their rental property and looking to replace the existing mortgage.