The 55+ generation is growing and with it is the demand for mortgages in and approaching retirement. So, what solutions are available if you want a later life mortgage, asks Sarah de Waard
Marsden Building Society has developed a new mortgage range to support those over the age of 55 to secure a mortgage on their home. This range is supported by their specialist mortgage team who can offer more information or advise you on what products will suit your needs.
Many customers are facing barriers as they get older when it comes to their mortgage. Often, when people are approaching retirement age they’re looking to raise additional finance to meet their plans into and during retirement or, looking to downsize or use their savings to pay off their mortgage.
The Marsden’s Head of Lending Steve Robinson, tells me: “We are responding to a growing need to support customers who wish to stay in their home in retirement and we felt that the solutions for customers in this situation weren’t readily available. Our 55+ range gives solutions for those approaching maturity or have an existing interest only mortgage and are facing barriers due to their age or circumstances. Many are using it to support their future goals and are planning to downsize in the future. We even have some parents who are using it as a way to release equity from their home to support their children onto the property ladder.”
Steve continues: “A lot of this is around customers knowing that these solutions are available and how they access them and that’s where our mortgage team come in. If a customer is interested, they can get in touch with our team who will be able to provide advice or simply answer their questions.”
If you would like to find out more about this range, get in touch with the Marsden’s specialist mortgage team on 01282 440537 or visit their website for more information
Marsden Building Society
Principal Office, 6-20 Russell Street
Nelson BB9 7NJ
Marsden Building Society, established in 1860 and offer savings, mortgages, home insurance and funeral plans by phone on 01282 440500 or through their branches in Nelson, Barrowford, Colne, Burnley, Clitheroe, Lytham, Poulton and Garstang. For more information, please visit their website.