Retirement mortgages

Later in life, many people have a need to manage their estate planning, particularly in relation to inheritance tax liabilities. Others may simply want to release a lump sum without disturbing other assets and investments. In both cases, the solution may be to raise funds against the value of your principal property.

            Borrow against the value of your principal residential property
        
            The typical maximum loan to value (LTV) is 50%.

            There is a monthly payment of interest due on the loan
        
            This means the amount borrowed does not increase over the life of the loan, but the interest payment amount can decrease if any lump sum payments are made.

            Affordability is assessed on income in later life and the ability to meet monthly interest payments
        
            We assess your ability to afford the monthly interest payments based on your actual or projected income and expenditure, both going into and in retirement itself.

            The mortgage is repaid on the sale of your property, or when the last surviving borrower passes away or moves into long-term care
        
            A retirement mortgage has no pre-defined loan term*.  The amount borrowed will be the final amount due, unless it has reduced following any lump sum repayments.

Protect your valued assets

Hampden & Co works with specialist insurance provider Hiscox Private Clients who can offer you flexible cover, tailored to your specific requirements with a personalised service that complements our own. Please speak with your banker for more details.

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* To calculate the annual percentage rate of charge (APRC) and issue a European Standardised Information Sheet (ESIS), we will assume the loan will mature when the youngest borrower reaches 85 years of age, unless instructed otherwise. A Lifetime Mortgage may be more suitable. All borrowing is subject to status and is available to persons of 55 or over. Interest to be paid monthly via a servicing account at Hampden & Co.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE.

Retirement mortgages

Enjoy greaterfinancial flexibility in your later years