30 September 2023

Confidence is low but opportunity remains high

By Newcastle Intermediaries

Now more than ever we need to ensure that Later Life borrowers have options, whether buying, downsizing or helping their children onto the property ladder.

According to UK Finance, new residential lending where the term extends into retirement (when the main borrower turns 65) now accounts for around 60% of the total residential lending.[1] With many coming to the end of their fixed deals, they may feel their options are limited and those facing refinancing dilemmas will need as much support from brokers as possible.

Later Life borrowers will be thinking carefully about their rates, especially when they are expected to remain high, so finding a new deal that meets their needs is essential to rebuild confidence within the market.

Why Newcastle Intermediaries?

One of the key highlights of our product range is our enhanced flexible lending criteria. Later Life borrowers can choose between fixed or variable interest rates, repayment or Interest Only mortgages, or various loans up to a 40-year term. In addition, we will consider a variety of income sources including retirement income up to age 80.

What’s more, throughout your mortgage journey with us, you will have a dedicated point of contact and direct access to our team of underwriters to support you every step of the way. 

To contact your dedicated Business Development Manager for an appointment and to find out more lick here.

[1] Later Life Lending Update - Q2 2023.pdf (ukfinance.org.uk) (110kb pdf)

For adviser use only. Please note this content has been supplied by our lender partner and as such, is their responsibility. No party shall have any right of action against Legal & General in relation to the accuracy or completeness of the information in this article.