Do you feel that you are locked into an interest only mortgage deal that you cannot get out of? To help you with this mortgage companies are coming up with some creative solutions. Furthermore, as we are independent mortgage brokers, we can look at all the financial solutions available to you. However, for many, [...]
For homeowners with an interest only mortgage, these can be worrying times. Many will not have a repayment plan and could be looking at an uncertain financial future. The worst affected are people coming up to retirement. They are likely to have taken out an endowment plan which was designed to repay the capital amount [...]
By John Cossons, Mortgage Adviser at Anstee & Co. I have recently been talking to clients who have an existing interest-only mortgage on their property. This is now due to be repaid and they would like to consider how to raise the money now that they have retired. The options are that they take out [...]
Over the last few years, mortgage lenders have become more amenable to older borrows who are moving into retirement. We have seen mortgage rates improve and there's now greater flexibility in the products available. Traditional mortgage lenders are now will to extend the borrowing term of the mortgage beyond state pension age. The requirement that [...]
