We assist a number of people who have come to the end of their mortgage and have faced a difficult time finding competitive mortgage finance.

We provide a number of finance options for individuals who have come to the end of their mortgage, 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. 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. Alternatively, we can look at Retirement Interest Only options where there is no minimum equity requirement in the existing home.

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.