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Mortgages for the Over 60’s to 90’s

  • Residential and Buy to Let
  • Interest Only and Repayment
  • Earned Income, Pension Income and Pension Projections
  • No maximum age for residential & buy to let mortgages Lenders
  • Mortgage Advice*
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*We advise on residential and buy to let mortgages. We do not advise on Equity Release.

Mortgages for the Over 60’s to 90’s

In assessing whether a mortgage is suitable the Regulator, the Financial Conduct Authority, has always been very clear with mortgage lenders, that the mortgage must be affordable. It has never given guidance to either banks or Building Societies that those over a certain age cannot obtain finance, yet may customers over the age of 60 face greater difficulties in securing finance at competitive rates. When it comes to securing finance, many home loan lenders have very strict rules when it comes to age limits and lending into retirement.  The individual mortgage companies have set up these rules, as many deem lending to the older population a greater financial and reputational risk. We do not share this view.

Typically, when we speak to our older customers, they confirm they are in receipt of pension income which is guaranteed. This is unlike when they were working and income was dependent on salary and their continued employment. Many older borrowers and pensioners are able to budget more, as they are not prone to the same fluctuations in income that those in the workforce are subject to.  In addition, over the course of their lifetime, they have often built up significant equity in their property, have successfully previously had credit and therefore provide a lower, not higher risk to lenders.

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We assist a number of people over 60 who have faced a difficult time finding competitive mortgage finance. People are not only living longer, but they are working beyond retirement and those who have retired are in receipt of a pension. The reality is that many are earning more over the span of their lifetime than ever before and this coupled with advances in medical science, mean many of us are fitter than ever before.

Many customers who make contact realise that we can obtain them a far more competitive deal than they are currently on with their existing lender. For those looking for a new mortgage, they realise that good homeowner deals for pensioners do exist.

We provide a number of finance options for individuals over the age of 60, to not only obtain the mortgage they desire, but importantly ensure they are on payment plans within budget and that they can afford. We can look at finance on a repayment basis, where the capital as well as the interest is repaid or on an interest only basis. This would usually involve some form of investment in the background, such as a pension, premium bonds or an ISA savings plans. We have success with many applicants using later downsizing to a smaller house or flat at some time in the future, as a realistic and appropriate vehicle to pay off the loan later.

We successfully assist those over 60 with either a residential mortgage on your current home, or on a new home you wish to purchase. In addition, we can also provide you with finance to purchase or re-mortgage a Buy To Let property which is to be let out.

The Process

On initial contact we will take you through a full mortgage questionnaire and ascertain your needs and requirements. During this process, we will assess your affordability using the lender’s own affordability calculator to confirm the chances of securing your requested loan. We will need to ensure that you cannot just afford the mortgage now, but that it remains affordable in the longer term, given the mortgage is a financial liability. We will be able to fully advise you on the monthly mortgage repayments and instalments.

In order to support your application to the lender, we will need to appropriately identify you by way of a passport or driving licence and confirm your address proofs through either a utility bill or council tax statement. We will also need to corroborate your income details by way of your pension and bank statements. It is crucial for our clients to be able to prove they have the ability to repay the loan and having all the documentation showing you are receiving pension payments will vastly improve your success rate.

When securing a mortgage, it is important to ask yourself some important questions. These will include, how much do you want, what do you need, what can you afford, what budget have you set, what type of mortgage do your require, be that interest only or a repayment. In addition, you will need to be comfortable with the length of the mortgage term and how long you will be committed to the actual mortgage lender.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Rates are updated daily and can be withdrawn at anytime without notice by lenders.”

Think carefully about securing other debts against your home. Your home or property may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.

Commercial Mortgages and some forms Buy to Let mortgages are not regulated by the Financial Conduct Authority.
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I agree for my personal information to be treated as confidential and held in accordance with the Data Protection Act 2018 (DPA 2018 also know as GDPR) in order to be contacted with details of services and products in writing, by email or telephone by Rockhopper Mortgages and its agents

 

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Excellent Service

Outstanding from start to finish. Great communication throughout. They fully explained everything an....
For service -  Resi/Remo/8 Main Drive
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Really happy with the service given much appreciated thank you

By: Steven Brown
Friendly and polite service kept me informed on what was going on Really happy with service given th....
For service -  Resi/Remo/ Keep Hill Close
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Amazing

Very helpful, and took the stress out of finding a mortgage that suited us. David and Alex were amaz....
For service -  Resi/Purchase/Field Gate Close
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Excellent service, really felt involved and well informed,thoughout

By: Kathryn Thompson
Very professional, communication excellent, David and Alex were lovely to work with, I had full co....
For service -  Resi/Purchase/Roehedge
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knowledgable and easy

By: Bramadarshan Ganesan
Thank you for your help withthe mortgage.....
For service -  Resi/Purchase/Hebron Court
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Knowledgable & Trustworthy

By: Zara Truscott
My partner had previously used Rockhopper and was thoroughly satisfied with the service from David. ....
For service -  Purchase/37a Leek Road
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Great communication and efficient handling of mortgage application!

Great service from David and Alex. Found us as good a deal that was available to us at the time, spe....
For service -  Resi/Remo/Victoria Avenue
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Excellent service

Calm and efficient service. Good communications. All went according to olan.....
For service -  Resi/Purchase/Barclaugh Drive
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Returned customer. Very Professional and Knowledgeable Mortgage brokers.

I have always been impressed by the professionalism of the brokers at RockHopper. I worked with them....
For service -  Resi/Remo/Waverley Avenue
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Excellent Service. Would highly recommend.

I received excellent service from David & Alex. Great communication and very efficient, it was a ple....
For service -  Resi/Purchase/Brighton
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Very professional and found us a solution when other brokers couldn't.

David spent time finding a solution for our non standard requirements which other brokers could not ....
For service -  Resi/Remo/Cherrington
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All thanks to Rockhopper, we have just completed on our new home...

By: Graham Fisher
We've just completed on our new home and its all thanks to Rockhopper. Our circumstances are not the....
For service -  Resi/Purchase/Newtown
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Efficient, transparent and helped us get a mortgage when no one else could!

By: Nzinga Akinshegun
Very efficient. Both David and Alex went above and beyond to get us a mortgage. They would answer em....
For service -  Resi/Purchase/Hamslade Cottage
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Great Service, Patient and Helpful.

By: Edward Impey
Kept us informed, looked at different options but mainly sourced us finance where everyone else stru....
For service -  Resi/Purchase/Hamslade Cottage
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Highly Recommend

Great service, unfortunately hampered by terrible service from the lender. David went the extra mile....
For service -  Product TX/Dale Street
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Rockhopper is awesome!

By: Tracey Yoko
Service and communication always professional and efficient. David and Alex were a pleasure to deal ....
For service -  FTB/BTL/Purchase/St Georges Gate
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Excellent service

By: Alistair Myles
RockHopper were efficient and effective and I would not hesitate to recommend them.....
For service -  ProductTX/Westcote Road
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Rockhopper was great service to arrange out mortgage. We found great options quickly and they helpe....
For service -  Resi/Remo/Cleveland Road
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David Rostron helped us finding the perfect mortgage. Highly recommend.

By: Ivor Du Merwe
Service was great and David knows literally everything in the mortgage market.....
For service -  JASP:Resi/Purchase/Woodlands House
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Excellent customer service

By: Christopher Spicer
Great services from start to finish from Alex & David. Good communication and dealt with everything ....
For service -  Resi/Purchase/Bruneval Gardens
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Information is based upon our current understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from taxation, are subject to change.

RockHopper Mortgages is a trading style of RockHopper Origination Limited, an appointed representative of The Right Mortgage Ltd, which is authorised and regulated by the Financial Conduct Authority.

Your Home (or property) may be repossessed if you do not keep up repayments on your mortgage or any other debts secured on it.

Some forms of Buy to Let mortgages and Commercial mortgages are not regulated by the Financial Conduct Authority.

A fee may be charged for mortgage advice. The exact amount will depend on your circumstances.

RockHopper Origination Limited is a company registered in England and Wales with company number 10241688. Registered Office:Rockhopper, Blackwell House, Guildhall Yard, London, EC2V 5AE

The information contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK.

CONTACT US

Tel: 0203 621 5696
Fax: 0203 621 5697
Email:info@rockhopper.uk.net

Address: Rockhopper, Blackwell House, Guildhall Yard, London, EC2V 5AE

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