A later life mortgages is a loan secured against your client's home for ages over 55 (50 for our Payment Term Lifetime Mortgage). Our later life mortgages are made up of Lifetime Mortgages and a Retirement Interest Only Mortgage. 

More people are using later life mortgages as part of their retirement planning. This isn’t surprising. A later life mortgage can support your clients’ retirement plans in a number of ways. It maybe used to provide a more comfortable retirement, or instead of taking income from pensions. This could mitigate income tax and reduce any tax payable on death.

A later life mortgage can help transfer money to children or grandchildren, perhaps to help buy a first home, or even pay off your client's existing mortgage. It can act as a backstop in case of unexpected expenses, or be used to fund care costs. It can even help if couples separate or divorce in later life.

David G Jones

Over 50s Mortgages distribution team

"We want to work even more closely to support our advisers and partners to enable them to offer outstanding advice, service and products to their clients, really embedding lifetime mortgages and retirement interest only mortgages as core elements of later life financial planning."

David Jones, Distribution Director, Home Finance

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