Long Term Interest Only Retirement Mortgages

Closing in on retirement? you may find it is getting increasingly difficult when it comes to obtaining a mortgage for a new home or to switch your current mortgage.

This is where a retirement interest only mortgage may come in handy. They are very similar to standard interest-only mortgages however the loan is usually paid of when you die, sell you house or moving into long term care and in terms of affordability you only have to provide evidence that you can afford the monthly interest repayments.

The retirement interest only mortgage differs from other equity release schemes such as the Lifetime Mortgage in that you continue to own your home.

Clearly you need expert advice in these situations.