Repayment Mortgages beyond age 75

What are Repayment Mortgages beyond age 75? 

This type of mortgage offers an alternative to an Equity Release or Retirement Interest Only mortgage and is designed to help borrowers who: 

• Have sufficient pension incomes to evidence the repayments are affordable. 
• Have employed or self-employed income which remains plausible beyond standard retirement age. 

Repayment Mortgages beyond age 75 eligibility  

These eligibility guidelines are note absolute, so please ask for a personalised illustration: 

• The borrower is usually aged between 55 and 80 years old. 
• Maximum loan to value is usually 75%. 
• No minim equity required with some lenders. 
• Affordability is based on multiple sources of income that can include employed/self-employed income, pension, investment, and rental income. 

Alternatives to Repayment Mortgages beyond age 75 

Repayment mortgages beyond age 75 are only available with a limited number of lenders and the lending criteria is very specific.

The number of equity release mortgage products continue to grow and the criteria becoming very similar to traditional mortgages, to include: 

• You can now pay the monthly interest on most equity release mortgages. 
• You can overpay most equity release mortgages by up to 10% per annum. 
• Some equity release mortgages have early repayment charges for no more than 5 or 8 years.  

How do Repayment 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: