ENJOY SECURITY IN YOUR SENIOR YEARS WITH A MORTGAGE FROM LATER LIFE PROPERTY FINANCE

These special mortgages are designed for the over 55's. They allow you to release cash from your home while continuing to live there. The money can then be used to support your lifestyle.

With a later life mortgage, you borrow against the value of your home. The loan amount will depend on your age and your property value.

You receive a tax-free lump sum and unlike a normal mortgage, the loan only gets repaid when you pass away or move into long-term care.

LATER LIFE PRODUCTS

There are three main types of later life mortgages to choose from:

LIFE TIME MORTGAGE

You borrow a percentage of your property’s value.

This can be up to 60% if you are over 55. You receive this as a lump sum to spend as you wish.

Interest is rolled up over time and repaid along with the loan from your property sale. This means the amount owed can grow quickly, reducing what’s left for your estate.

HOME REVERSION PLAN

You sell a share of your home to a Home Reversion provider, usually between 25% to 60%. The provider then pays you a tax-free lump sum, based on this share, whilst you retain full ownership of the remaining share. There are no monthly payments required. The Home Reversion provider recoups their share by selling the property when you decide to move into long-term care or pass away.

Later Life Property Finance does not offer home reversion plans.

RETIREMENT INTEREST ONLY MORTGAGE

A retirement interest-only mortgage is a loan specifically designed for individuals who are retired or approaching retirement. Unlike traditional mortgages, borrowers only pay the interest on the loan each month, with the principal amount repaid when the property is sold or upon the borrower's death or move to long-term care.

Our expert advisers will get to know

your circumstances before making any recommendations.

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LATER LIFE PRODUCTS

Things You Need To Know

THINGS YOU NEED
TO KNOW

Home Ownership and Living Arrangements

-You retain ownership of your home and can live in it for life.

-You can still move house subject to paying off the loan.

Financial Considerations

-Family inheritance may be reduced due to the growth of the loan.

-Interest rates can be fixed or variable. Ask about current rates.

-Early repayment charges may apply in the first few years.

-The equity released is tax-free.

-It can affect long-term care funding so take professional advice.

-Your state benefits may be impacted, so seek advice.

Legal and Relationship Aspects

-Independent legal advice is compulsory for all borrowers.

- Your partner’s rights must be protected if they are not a borrower.

-Make sure family members are aware of your plans.

Home Maintenance and Obligation

- You need to maintain your home and insurance as normal.

-You remain responsible for council tax, utilities, etc.

-No need for routine valuations, but we can check house price changes.

Financial Details and Flexibility

-Additional costs may apply for survey, legal work, and lender arrangement fees.

-Alternative options and considerations.

Alternative Options and Considerations

-Home reversion means selling part of your home.

-Make sure you understand the implications before committing.

-Shop around to find the best deal for your needs.

-Seek independent advice.

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Why Choose Us?

WHY CHOOSE US?

At Later Life Property Finance Ltd, our core values are at the heart of everything we do. As your trusted financial partner, we are dedicated in providing you with a unique and personalised experience that goes beyond immediate financial solutions.

Our commitment is rooted in the following principles:

Good Customer Outcomes

Experience financial solutions that lead to positive and beneficial outcomes tailored just for you.

Customer-Centric Approach

You are the focus of our decision-making processes. We tailor solutions to meet your specific needs, ensuring a personalised and attentive approach.

Long-Term View

We adopt a strategic and forward-looking approach, considering the long-term impact of financial decisions on your well-being. Your future financial security is our priority.

Holistic Financial Planning

Benefit from comprehensive solutions that address various aspects of your financial situation. We believe in fostering your overall financial health and stability.

Empathy and Understanding

We understand the unique challenges that our customers face. Our team demonstrates empathy and a deep understanding of your financial needs, ensuring a compassionate and client-focused experience.

At Later Life Property Finance Ltd, we go beyond meeting immediate financial requirements.

We are committed to contributing positively to your overall financial well-being and satisfaction.

Join us on a journey where your financial goals become our shared mission.

Your success is our success.

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WHY CHOOSE US?

WHAT ARE THE POTENTIAL USES FOR THE EQUITY RELEASED FROM MY HOME?

Supplementing Retirement Income

Access a lump sum or regular income to enhance your retirement lifestyle.

Enjoy the freedom to indulge in hobbies, travel, or simply make the most of your golden years.

Home Improvements

Invest in home renovations or modifications to create a more comfortable and accessible living space.

Enhance the value of your property for future generations.

Debt Consolidation

Settle outstanding debts or mortgages, streamlining your finances and reducing monthly financial commitments*.

*Consolidating debt through a lifetime mortgage may result in a significant increase in the overall amount you owe over time. By securing debt against your home, you risk losing the property if you fail to meet the repayment terms. It's crucial to consider the long-term implications and seek independent financial advice before proceeding with this option.

Assisting Family Members

Provide financial support to children or grandchildren for education, weddings, or getting on the property ladder.

Care Costs and In-Home Assistance

Cover the costs of in-home care or necessary medical expenses without the need to sell your property.

Bucket List Adventures

Fulfil lifelong dreams and travel aspirations with funds released from your home equity.

Early Inheritance Planning

Secure your legacy by gifting financial support to your loved ones, ensuring you witness the positive impact firsthand.

Financial Flexibility

Have a financial safety net for unexpected expenses or emergencies, providing peace of mind.

Buy a Second Property

Invest in a holiday home or downsize to a more manageable property while releasing equity for other financial goals.

Charitable Contributions:

Support causes close to your heart by using released equity for charitable donations.

Our team at Later Life Property Finance Ltd is here to guide you through the possibilities of equity release tailored to your unique circumstances.

Contact us today to explore the options available.

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OUR PEOPLE

IAIN SWATTON

MANAGING DIRECTOR

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With more than 35 years of experience in the mortgage industry, Iain brings unrivalled expertise and a profound understanding of the market.

Possessing qualifications in Diploma in Financial Planning and Advanced Certificate in Mortgage Advice, he is a trusted authority in his field. Iain's philosophy centres around providing high-quality, innovative, and tailored solutions to clients.

Embracing technology while valuing the personal touch, he builds long-term relationships based on trust. Leveraging his extensive experience, Iain navigates clients through the complexities of mortgages, offering optimal advice and tailored solutions.

In his personal life, Iain is a dedicated family man, cherishing moments with his wife and children. He maintains an active lifestyle as a member of his local running club, prioritising fitness alongside his passion for travel and quality family time.

EMMA HERNANDEZ

SENIOR MORTGAGE CONSULTANT

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Emma is a distinguished expert in domestic, expat, and foreign investor lending, with a focus on equity release and lifetime mortgages. Her journey into mortgage advice began as a natural progression, marked by obtaining qualifications with distinctions, following years of active investment in the UK market and a successful tenure as a landlord. Emma leverages her extensive experience to assist a diverse client base.

Emma provides impartial advice to ensure you secure the best possible deal. Emma's specialisation extends to expat and she brings a wealth of knowledge to the realm of retirement and lifetime mortgages. What sets her apart is her genuine enthusiasm for getting to know clients, playing a pivotal role in significant life changes, and helping them achieve their goals.

Committed to providing quality advice and guidance, Emma navigates clients through the mortgage process, offering insights at every step with a focus on building lasting relationships.

Beyond her professional endeavours, Emma finds joy in family time and shares a passion for scuba diving with her partner and three sons, along with exciting trips on the motorbikes.