Overview
We have found that many of our customers initially faced obstacles when they sought to raise finance. Age doesn’t need to be a barrier and as such we do not have any restrictions for older borrowers. If you are experiencing any of the following, we may be able to help; • You have an interest-only mortgage coming to term • You may be looking to secure your future by purchasing a property post-divorce or death of a partner • You might need to rightsize (or downsize!), or move to a property which will suit your future needs • You may simply need to refinance, consolidate debts or require funds for home improvements or adaptationsKey Features
- Secured Loans from £5,000 - £100,000
- Interest Rate 5.99% (6.16% Typical APR)
- Low Arrangement Fee
- No penalties for overpayments or early settlement
- Home Visit - Financial review carried out in your home
- Terms of up to 20 years available
- Individually tailored loan packages
- No age restrictions for older borrowers
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”