Lending into Retirement Mortgages

Lending into Retirement mortgages are a type of mortgage designed for homeowners aged 55 or above who are approaching retirement. Available on a repayment, interest only or part-and-part basis, this type of mortgage offers a lending solution for those approaching retirement looking for a mortgage with traditional terms.

By applying for a Lending into Retirement mortgage, you could pay off an existing mortgage, along with any early repayment charges, remortgage your home or borrow additional funds to pay for home improvements, purchase an investment home, gift money to a family member, or cover any other expenses you may have*.

A Lending into Retirement mortgage could be an option for those approaching retirement who are looking for a flexible way to manage their finances. There’s a range of eligibility criteria you’ll need to meet for this mortgage range. As a guide, you could be eligible for a Lending into Retirement mortgage with the Marsden if:

• You’re looking to borrow at least £30,000
• You’re looking to borrow a maximum of £2,500,000*
• Your property is worth at least £150,000
• You’re looking to borrow up to 70% LTV on a repayment, interest only or part-and-part basis
• You’re at least 55 years old (for joint cases, only one applicant needs to be 55 or over)
• You have an annual income of at least £17,500 (whether you’re applying on your own or jointly)

*Maximum loan amount unless otherwise stated. 

**Please note, if you’re looking to borrow against your home for a variety of reasons (home improvements for example), depending on the amount of the loan advance, documented evidence may be required to support the loan purpose.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE