Buy to Let Equity Release beyond age 75

There is a lot of misinformation about buy to let mortgages for individuals aged 75 and above. It is possible to arrange a standard buy to let mortgage for an individual aged older than 75

In circumstances where an individual wants to release equity from a buy-to let property but may be in long-term care or has arranged a Power of Attorney, a Buy to Let Equity Release mortgage may provide the solution.

How to Buy to Let mortgages beyond age 75 work?

Some lenders require applicants to have a minimum income or to be younger than 75 to qualify for a buy to let mortgage, below is some key criteria: 

  • No maximum age at point of application. 
  • No minimum income requirement. 
  • Standard mortgage terms of 25 years and beyond. 


How do Buy to Let Equity Release mortgages differ to standard Buy to Let mortgages?  

Let’s assume that an individual has one or more buy to let properties but has now entered long-term care and family members want to release equity from the buy to let portfolio to fund care costs. You may have a Power of Attorney in place. 

Most High Street buy to let lenders will consider the client to be vulnerable and decline this application. 

Equity release lenders now offer mortgage products specifically for buy-to-lets and understand the need to release equity whilst working with a Power of Attorney.


How Buy to Let mortgages beyond age 75 work

We will help you choose the right product and provider, we will explain your options, in jargon free plain English, so you can make an informed decision. Here is the process, from getting advice to receiving the money:

Step 1: Get advice 

Speak to one of our Partners who is qualified to offer advice on equity release and later life mortgage products. 

We will take time to understand your mortgage need and aspirations and to make sure equity release is right for you, we may be able to recommend another type of mortgage that works better for you. 

We will then email you a personalised mortgage illustration and send you an information pack in the post. We’ll spend all the time it takes, so you fully understand the product, so it works for you now and in the future, should your circumstances change. 

Step 2: Valuation & Offer 

Once you give us the green light, we will submit your application online to the lender. 

At this point, you need to instruct a solicitor to act on your behalf. We work closely with Equilaw and can instruct this firm on your behalf if required. 

The lender will arrange a FREE valuation of your home. Once this has been completed and your application approved, the lender will send the offer to you and your solicitor. 

We have arranged that Equilaw will send a locum solicitor to your home to sign the mortgage documents at no additional cost, a date for completing the mortgage can be scheduled. 

Step 3:  Receiving money 

We’ll make sure the mortgage offer is exactly as we described and then work with your solicitor through to completion. 

Your solicitor will repay any existing mortgage on your property and then send the balance of the funds to you. 

If you have decided to make monthly interest payments on you mortgage, we’ll explain the options available to you. 

You can choose the have a lump sum on completion or a drawdown facility or a combination of both.  

We will always be available to advise you in the months and years to come, should your circumstance change. 

How long does it take to arrange a Buy to Let mortgage beyond age 75?

The length of time it takes to complete an equity release mortgage will depend on the provider we have recommended. Here is a simple guide to the timescales involved: 

  • Same day decision in principle. 
  • Valuation instructed within 24 hours.
  • Mortgage offer issued within 48 hours of the lender receiving the valuation. 
  • Legal completion usually within 4 to 6 weeks from instruction.  

Get independent equity release advice now

Our equity release specialists are available now to explain your options.

To request a call-back, get in touch via our contact us page.

0800 999 3339

Monday to Saturday
9:00am – 8:00pm

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