Overview
Interest-only mortgage ending soon?If you have an interest only mortgage where the term is coming to an end and you’re worried about repaying the capital, we can help with a Mortgage Extension. Your independence matters to us and our main aim is to ensure that you can continue to live in your home. Depending on your income, we can help you reduce the amount of capital outstanding, so that you can stay in the home you love. Click here to find out more
Need to move to a more suitable property?
If you are looking to move, we can help you with a Rightsize Loan. You may be thinking of moving closer to friends and family, finding a more accessible property or one that could be more easily adapted in the future. Whatever the reason, we can help, giving you access to the funds you need to move home and get back on track.
Need to repair or improve your home?
If you are looking to carry out repairs or improvements to your home, we can help with a secured Homeowner Loan. Whether your kitchen needs an overhaul or your boiler has gone bust, we can find a solution that suits your needs. Some of our loan products do not even require regular monthly payments. Click here for more information.
Key Features
- No age restrictions for older borrowers
- Free Financial review carried out in a place and time to suit
- Subject to Financial Review, we can provide secured loans from £5,000 - £100,000
- Interest Rate 5.99% (6.16% Typical APRC)
- Low Arrangement Fee
- No penalties for overpayments or early settlement
- Terms of up to 20 years available
- Loan packages tailored to suit your means
Examples
| Loan Type | Loan Amount | Term | Monthly Payment | Interest Rate | Total Amount Payable | Loan Product Features |
|---|---|---|---|---|---|---|
| Capital Repayment | £5,000 | 15 years | £40.83 | 5.49% (5.63% APR) |
£7,349.40 | Your monthly payment is applied against the interestaccrued and the capital. The amount you owe will decrease with each monthly payment. |
| Interest Only | £5,000 | 25 years | £22.88 | 5.49% (5.63% APR) |
£11,864.00 | Your monthly payment will only cover the interest accrued. The capital will need to be repaid at the end of your loan term or when you sell the property. The loan settlement will always remain the same and in this example it would be £5,000. |
| Interest Roll Up | £5,000 | 25 years | £0.00 | 5.49% (5.63% APR) |
£19,664.36 | There is no monthly payment so the loan balance will increase over time as the interest accumulates. You will have to repay the capital plus interest accrued when you sell the property or at the end of the loan term. |
| Shared Equity | £5,000 | 25 years | £0.00 | N/A | Linked to property value | With a Shared Equity loan a capital sum is lent with the amount owed linked to the value of your property. A valuation will be required to assess the property value at the outset and when the loan is settled. |
“The advisor was very helpful and explained everything and was in constant touch advising on schedule and progress of application”