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Later life mortgages
Retired or approaching retirement? Unlike the big banks we can offer generous mortgage terms beyond the age of 60.
What is a later life mortgage?
At Family Building Society we don’t turn down people because of their age. We treat our older borrowers the same as our younger ones.
Our standard range of Owner Occupier mortgage products are available to later life borrowers. We also offer a later life specialist mortgage, our Retirement Interest-Only mortgage.
We don’t believe in a ‘one size fits all’ approach to mortgage lending and actively look for ways to help when other mortgage lenders are unable to.
Warwick tells the story of the struggles he and his wife Lynda had in getting a new mortgage close to his retirement, and how we were able to help them.
Why choose Family Building Society?
We don't judge people by their age
We have been providing mortgages to those aged 60 or over for many years on both Interest-Only and repayment mortgages.
Generous mortgage terms for older borrowers
- Owner Occupier Repayment mortgages – up to a maximum age of 95 at the end of the term.
- Owner Occupier Interest-Only and Buy to Let mortgages – up to a maximum age of 89 when the loan commences.
We'll take income into account
- We'll accept earned income to age 70.
- We'll accept non-earned income from a variety of sources such as fixed pensions, pension pots, investment and rental income.
Our mortgage products
Whatever your situation we offer a range of fixed and discounted rate mortgages, suitable for remortgage or purchase on both an Interest-Only and repayment basis
Retirement Interest-Only (RIO) mortgage
Our RIO mortgage is an Interest-Only mortgage that don't have a specific end date. They are designed for those over aged 55 who are looking to stay in their home and avoid downsizing.