Lending In Retirement Mortgages

Yes - We offer mortgages for house buyers / homeowners who have already retired /are semi-retired. We will consider you for a mortgage with a maximum LTV of 60% up to age 85 for the main applicant. You can explore your options with one of our mortgage advisors https://www.swansea-bs.co.uk/swansea-building-society-contact-mortgages

Yes - paying back your mortgage with a pension is acceptable. Here at Swansea Building Society, we have a team of knowledgeable mortgage underwriters who understand the security of pension earnings. Because of this, we are in the position to consider mortgages for more mature borrowers, provided that you can afford the mortgage repayments and have a verified income. This could be either from a private or work-related pension, investment income and a job but the job income must not be the main source of income. We can also accept other forms of income as long as these can be evidenced.

The maximum age of the eldest applicant is 84 and the borrowers need to have the ability to repay their mortgage by the 85th birthday of the main applicant. Please remember that your acceptance is subject to a detailed appraisal of your finances and credit history, to make sure you can afford the monthly payments.