Mortgages for changing lifestyles
Borrowing into retirement
At The Loughborough, we understand that lifestyles have changed and with them financial needs.
Our Borrowing into Retirement mortgages have been specifically designed for older borrowers who are in or nearing retirement and need a mortgage term that will take them beyond the age of 80. We have no upper age limit which means you can take a mortgage for up to 35 years regardless of your age at the time you apply.
Our Borrowing into Retirement products are available on an interest only or repayment basis, at up to 60% loan to value (LTV) for purchase or re-mortgage of property in mainland England and Wales. We’ll even consider using the mortgaged property as a way of repaying the loan at the end of the term should you choose to take the mortgage on an interest only basis.
The Building Societies Association has published a guide entitled ‘Can I get a mortgage at my age?’ which you may find useful and you can find the answers to some questions you may have here.
Variable rate
for comparison
Borrowing Into Retirement Term Discount
Representative Example
5.79%
6.0% APRC
60%
£0
Representative Example
Joint Borrower Sole Proprietor – 3 Year Discount
Representative Example
5.15%
7.6% APRC
95%
£999
Fixed rate
for comparison
Representative Example
Prime Plus – Borrowing Into Retirement 5 Year Fixed
Representative Example
7.19%
7.9% APRC
60%
£0
Family Deposit Mortgage 5 Year Fixed
Representative Example
6.75%
7.8% APRC
100%
£0
Representative Example
Joint Borrower Sole Proprietor & Deposit Guarantee 5 Year Fixed
Representative Example
6.85%
7.9% APRC
100%
£0
Joint Borrower Sole Proprietor – 5 Year Fixed
Representative Example
5.99%
7.5% APRC
90%
£999
Borrowing Into Retirement 3 Year Fixed
Representative Example
5.49%
7.6% APRC
60%
£0
