0208 364 3444
In this week’s newsletter, we’re exploring buy to let mortgages tailored specifically for those over the age of 60, breaking the misconception that securing such financial arrangements later in life is too impossible or simply too expensive.
Buy to Let Mortgages for Over 60s: A Viable Option
As the landscape of lending evolves, more lenders are recognising the potential and reliability of older investors. Whether you’re looking to expand your property portfolio or are considering a buy to let investment for the first time, there are increasingly flexible options available.
Understanding the Age Limits and Opportunities
Residential lenders have clear criteria for age limits on mortgage repayment, often allowing terms up to the age of 70 to 75, however buy to let mortgage products can be more flexible in this regard.
We work with a large panel of lenders who offer flexible options for buy to let investors in their 50s 60s and beyond. We’ve listed some of the key benefits you may be eligible to below:
- No applicant upper age limit
- Flexible affordability criteria
- Borrowing based on rental income from property
- Interest Only payment terms
- HMOs and MUBS (multi unit blocks) accepted
- Why Consider a Buy to Let Mortgage After 60?
Remortgaging: As an established buy to let landlord, you’ll often find yourself remortgaging your properties to secure the most competitive rates, enhancing your profit margins.
Supplementing Retirement Income: Many older landlords bolster their pensions by generating additional income through rental properties. Whether investing before retirement or as part of their retirement strategy, rental income provides a vital financial boost.
Investing Inheritance: With increased life expectancies, many people receive inheritances later in life. Numerous clients choose to invest these funds into buy to let properties well into their 60s and 70s, seeing it as a wise investment for their later years.
Get Expert Advice
Don’t let misconceptions about age stop you from exploring your mortgage options. Whether it’s expanding your investment portfolio or securing a new income stream through property, our team is here to ensure you find the best possible solution.
Contact us today to discuss how we can assist you on 0208 364 3444 or click here to schedule a free consultation call.