Are you preparing for retirement or exploring mortgage options tailored for later stages in life? We can help you.
Retirement/ Later Life
At Pivot Mortgages, we specialise in retirement and later life specialist mortgages tailored to individuals aged 55 and above. These mortgage products are designed to provide financial flexibility and support for homeowners in their later years.
Retirement Interest-Only (RIO) Mortgages
A retirement interest-only mortgage represents a hybrid between a traditional mortgage and an equity release mortgage. Available to individuals typically aged 55 and above (although some lenders may accept clients as young as 50), these mortgages have no fixed term and continue until the homeowner either passes away, moves into residential care, or, if applicable, the remaining party does in the case of joint applicants. With RIO mortgages, homeowners are required to make interest payments throughout the term, but no capital repayments are necessary. The mortgage is repaid from the sale of the property, with any remaining equity passed on to the homeowner's estate for beneficiaries.
Exploring Your Options
As homeowners' financial needs evolve in later life, it's essential to consider the available options carefully. At Pivot Mortgages, we provide personalised advice and tailored solutions to help you navigate the complexities of later life lending. Our experienced team is dedicated to assisting you in finding the most suitable mortgage product to meet your specific requirements, ensuring financial security and peace of mind.
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Your home may be repossessed if you do not keep up repayments on your mortgage.
We Can Help You
To learn more about our retirement and later life specialist mortgages, and to discuss how we can assist you in securing the right solution for your needs, please contact Pivot Mortgages today. We're here to provide expert guidance and support every step of the way, helping you make informed decisions about your financial future.