We recognise that our customers have a variety of financial needs and aspirations, and we believe that our lending into retirement mortgages can help them achieve their goals. One of the key benefits of these mortgages is that they allow borrowers to access funds for a range of purposes not just for purchasing a new property or a like for like remortgage.
One popular use of lending into retirement mortgages is to finance home improvements. Whether you want to make structural changes to your property, add an extension, or simply update your decor, a lending into retirement mortgage can provide you with the funds you need to make your vision a reality. By borrowing against the equity in your home, you can create a comfortable and stylish living environment that meets your changing needs and lifestyle.
Another common use of lending into retirement mortgages is debt consolidation. If you have multiple debts with high interest rates, you may be able to save money by consolidating them into a single, lower-interest loan. By using a lending into retirement mortgage to pay off your debts, you can simplify your finances and reduce your monthly payments, which can help you to enjoy a more comfortable retirement.
In addition to home improvements and debt consolidation, a lending into retirement mortgage can also be used to help your children onto the property ladder. With rising house prices and stricter lending criteria, it can be challenging for younger generations to get onto the property ladder. By using your equity to provide a deposit or co-sign on a mortgage, you can help your children to purchase their first home and secure their financial future.
