{"id":18630,"date":"2018-07-06T09:45:38","date_gmt":"2018-07-06T08:45:38","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=18630"},"modified":"2018-07-06T09:45:38","modified_gmt":"2018-07-06T08:45:38","slug":"new-buy-to-let-mortgage-products-could-boost-retirement-income","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/news\/new-buy-to-let-mortgage-products-could-boost-retirement-income\/","title":{"rendered":"New buy-to-let mortgage products could boost retirement income"},"content":{"rendered":"

Retired landlords finding it difficult to access mainstream mortgages have been offered a helping hand by mortgage provider Retirement Advantage.<\/strong><\/p>\n

Older buy-to-let landlords seeking safe ways to generate income could benefit from the lender’s specialist over-55<\/a> buy-to-let product range.<\/p>\n

Last year, Retirement Advantage launched its over-55 buy-to-let<\/a> products enabling older landlords to release cash from their property tax-free<\/a> and keep their property portfolio<\/a> intact. This month\u2019s reduction in interest rates and an increase of the loan-to-value ratios across the range offer an attractive proposition to more mature borrowers<\/a>.<\/p>\n

More options for older borrowers<\/h4>\n

The \u2018over-55 buy-to-let lifestyle\u2019 product has had its monthly interest rate dropped from 6.26% to 5.99%, and the loan-to-value (LTV) raised by 5% for a 73-year-old to 32%. Plus, the lifestyle mortgage has no interest payments<\/a>; instead, the interest is rolled up and added to the total mortgage every month.<\/p>\n

The \u2018over-55 buy-to-let voluntary select\u2019 mortgage is down from 6.45% to 6.18%, and the LTV for a 73-year-old again has been raised by 5% to 32%. This mortgage allows landlords to overpay<\/a> by up to 10% every year without incurring an early repayment charge, which means that they can choose how much interest to pay.<\/p>\n

Lending in later life is on the increase as people live and work for longer, retire later and the cost of living continues to increase. The recent introduction of RIO (retirement interest-only<\/a>) mortgages has demonstrated the need for more lending options for older customers, and catering to the buy-to-let market is a huge boost for retired landlords needing to re-evaluate how they use their properties to generate income<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Retired landlords finding it difficult to access mainstream mortgages have been offered a helping hand by mortgage provider Retirement Advantage. Older buy-to-let landlords seeking safe ways to generate income could benefit from the lender’s specialist over-55 buy-to-let product range. Last year, Retirement Advantage launched its over-55 buy-to-let products enabling older landlords to release cash from… Read more »<\/a><\/p>\n","protected":false},"author":3380,"featured_media":9845,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[8,4,26],"tags":[25,341,352],"class_list":["post-18630","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alternative-investments","category-investment","category-tax-mortgages-money","tag-mortgages","tag-newsletter","tag-retirement"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/18630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/3380"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=18630"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/18630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/9845"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=18630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=18630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=18630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}