These really are crazy times we are living in, a leading buy-to-let mortgage provider has made it possible to obtain a mortgage irrespective of your age. The leading provider will lend to a prospective investor up to the age of 105 years old. What seems to be really strange is that if you want to buy a house just for yourself and need a mortgage the loan has to be repaid by your 75th birthday. Other lenders are even more harsh as we are seeing home buyers being told they are “too old” at 50 plus to take out a new mortgage. From April 6th this year savers over 55 will have more access to pension cash if they so choose due to the new pension rules. Many investors are expected to withdraw funds from their pension investments and pour it into new buy-to-let property. Existing investors see this as a way of increasing income in retirement plus having control of the cash on any re-sale in the future. Investment returns remain poor from traditional banks and look set to continue in this vain for the longer term. A large number of new buy-to-let mortgages have come onto the market place recently to accommodate these changes in pension rights for the “silver investor”. We are seeing many providers changing the age limits, so it would be very wise to check out what is available to suit you if you are considering entering this market. Need assistance? Our professional advisers are used to dealing with all types of buy-to-let mortgages. They have vast experience in this area and have access to all the new current deals on offer. Please do call to discuss your requirements and we will be happy to assist.
