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By lending into retirement, we help clients stay in their homes for longer

MHBS specialises in providing mortgage and remortgage solutions for clients approaching retirement and those already retired. For residential cases we lend to age 85 and there is no upper age limit for buy to let scenarios. We consider unusual properties and non-standard income, and offer a range of products including interest only loans and flexible solutions for HNW individuals, expats and foreign nationals.

The clients’ scenario

In this case example, a mature couple were looking to remortgage so they could stay in their home for longer. Adjacent to commercial agricultural buildings, their property was a grade II listed building with large acreage and multiple outbuildings including a pool, gym, and annexe. The clients required an interest only loan over a five-year term.

Our solution

We were delighted to offer the couple the finance they required to stay in their beloved home. We took into account their employed salaries, savings, investments and income from a pension. The property consisted of two titles and by taking them both as security, we offered a remortgage with following features:

• Interest only

• Five-year term

• Lending to age 69 (at end of term). For residential cases we lend up to age 85 (at end of term).

• Sale and downsize repayment strategy

Flexible approach to complex scenarios 

Specialist Business Development Manager, Rohan Hardeman, worked on this case and commented, “I see many cases like this, where older clients reach the end of their interest only period and aren’t ready to sell their family home. Sometimes their existing lender is unable to extend the loan, so with the help of an intermediary, they turn to a specialist like MHBS.

Our flexible approach means we don’t rely on computer-based decisions and carefully consider each individual scenario, including any complex factors. This allows us to build tailored solutions for clients who are reaching retirement with considerable assets.”

If you need an experienced lender to provide a solution for borrowers with a similar scenario, please contact one of our Specialist Business Development Managers or call 01858 412345. They are happy to chat through cases and talk about how we can help.

This is a recent case example, pricing is tailored to your clients’ individual circumstances. Article details are correct as of 4 April 2023.

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