Retirement Property Mortgages
- Award-winning brokers who will navigate the complex mortgage marketplace for you
- Simple and clear advice – no jargon
- We have access to a comprehensive range of mortgage lenders – including very specialist lenders for your individual requirements
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Most people tend to rent retirement properties, but it is possible to buy a retirement home either outright with savings or through a mortgage.
The challenge is, it’s not always easy to get a mortgage for a retirement property, partly because lenders look for resale potential when they consider whether to offer a mortgage deal, and you’ll need specialist help.
Which is where we can help.
At Smiths Financial, securing retirement home mortgages is one of our particular areas of expertise and we have access to a wide panel of lenders who could have the right solution for you.
Need more advice? We would be happy to help.
Case Study
One of our clients was in the process of buying a retirement apartment in a complex in Clacton-on-Sea and had got to the stage where a high street lender was satisfied with the valuation and a mortgage offer was made. However, just two days before contracts were due to be exchanged, the lender requested to see a copy of the lease and withdrew the mortgage offer as they didn’t like the lease conditions, which was heart-breaking for the client.Lender’s criteria vary for each lender and is based on each individual’s circumstances.
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