This is a consistency across the market. With so much negativity in the media, it is not surprising that many people think they have no options. But this couldn’t be further from the truth. There are more lenders and products available now than there has been for some time. Therefore, more options and choice for customers that may not have been eligible for a mortgage in previous times. This often does not include high street lenders though. These lenders could include a small building society located in a small village anywhere in the UK. Having access to a whole of market mortgage broker is the only way you’ll gain access to such a possibility.
In addition, and specifically aimed at those over age 55, Shawbrook Bank have recently launched a mortgage lending in to later life. Allowing interest only, this product assists clients in keeping their savings in place for longer, enables them to stay in their cherished home for up to an additional fifteen years and could allow them to raise additional funds, where affordability allows. Customers can also overpay the mortgage and there are no early repayment charges.