Cashback added to In Retirement product range
Posted on August 12, 2020
Loughborough Building Society has added cashback to all their Borrowing into Retirement products.
Across the full Retirement range The Loughborough offers:
- No maximum age at the end of the term
- Capital raising for a variety of reasons
- A maximum mortgage term of 35 years
- Interest only with downsizing with no minimum equity required
- LTV of 60% if the term ends after age 80
- The ability to calculate affordability on the remaining loan size at the point retirement income replaces earned income
And, they’re proud that they make common sense lending decisions to offer solutions for later life borrowers.
Ashley Pearson, BDM at The Loughborough said: “We offer sound mortgage solutions to people of all ages. Many borrowers who are coming up to retirement, or already retired are looking to move closer to family, improve their homes, take lifetime holidays and help younger family members finance their first homes, so it’s a pleasure to be able to make that possible and, with no upper age limit, we’re able to help more people with a range of specific individual needs”.
The new product range includes a 2 Year Discount, 3 Year Fixed and a Term Discount, all with £250 cashback and free standard valuation for both purchase and remortgage with variable rates starting at 2.79%.