Discover if Halifax Mortgages For Over 75s are ideal for your retirement planning needs.
- Retirement interest only mortgages at 3.11% fixed for life
- All mortgage payments are affordable with your pension income
- No maximum mortgage age limits
- Up to 70% loan to value
- Get tax free cash to repay your old standard residential mortgage if you still have one
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Mortgages for over 75s in the UK are becoming more popular as people live longer and healthier lives. There are a number of reasons why Halifax Mortgages for over 75s can be a good option, including the ability to stay in your own home, the possibility of freeing up some cash to live on or to leave as an inheritance, and the fact that mortgage interest rates are typically lower than other types of borrowing.
Mortgages for over 75s are usually given on a repayment basis, which means that you make monthly repayments until the mortgage is paid off. However, it is also possible to get an interest-only mortgage if you are aged over 75. This means that you only pay the interest on the loan each month and not the actual amount borrowed. At the end of the mortgage term, you will need to find another way to repay the outstanding capital, either by selling your property or using savings or inheritance.
There are a few things to bear in mind if you’re considering taking out Mortgages for over 75s. First of all, these Mortgages tend to have higher interest rates than standard Mortgages, so you’ll need to make sure that you can afford the monthly repayments.
Halifax Mortgage To Age 75 using your anticipated retirement income and property value
Halifax is a division of Bank of Scotland plc.
Bank of Scotland plc pensioner mortgages is registered with company number SC327000.
Our registered office is at The Mound, Edinburgh, EH1 1YZ for retirement interest only mortgage help.
We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.