Example case for a Santander Mortgage Over 55 for a UK homeowner
Property valuation: £205,000
The amount borrowed: £123,000
The monthly payment: £221.40
Interest rate: 2.16% APRC
Loan to value: 60%
What are the current Santander interest rates for a mortgage over 55 years old?
Santander interest rates for mortgage over 55 are 2.12% APRC.
Does Santander have good reviews for Santander mortgages over 55?
Yes, Santander reviews are splendid for Santander mortgage over 55.
Does the Santander mortgage over 55 calculator show the loan to value (ltv)?
Yes, the Santander Santander Mortgage Over 55 calculator shows the good loan to value (ltv) of 75%.
Does a Santander mortgage over 55 advisor charge a substantial fee?
No, Santander Santander Mortgage Over 55 advisors are free.
Common retirement finance offerings are TSB lifetime mortgages, HSBC equity release schemes, Halifax lifetime mortgages, L&G retirement mortgages and Nationwide BS retirement interest only mortgages.
Popular LTV ratios of TSB mortgages for over 50-year-olds, Barclays Bank interest only mortgages for over 60s, Halifax equity release plans for people over 60, L&G retirement mortgages over 65, Bank of Scotland retirement interest only mortgages over 60 and Nationwide lifetime mortgages for people over 55 are 50%, 60% and 70%.
Common loan to values of Liverpool Victoria interest only lifetime mortgages for over 70s, More 2 Life retirement interest only mortgages over 75, One Family interest only mortgages for over 60s, Yorkshire Building Society later life interest only mortgages over 75, Royal London mortgages over 65 and SunLife mortgages for people over 50 are 45%, 55% and 70%.
Some of the most popular loan to value ratios of Aviva mortgages over 70s, Zurich mortgages for people 60 plus, Sainsbury’s equity release plans for people over 60, Coventry Building Society mortgages for over 70s, West Bromwich Building Society interest only mortgages for over 65 year olds and Progressive Building Society interest only mortgages for over 70s are 50%, 60% and 70%.
Hard to mortgage property types can include properties in poor condition, age-restricted properties, freehold houses and bungalows (England, Wales, Northern Ireland), properties where the customer is offering only part of the title as security for the loan and properties with owned solar panels.
Difficult to finance property variants can include timber framed properties built before 1920, properties with any externally applied insulation to the walls after construction, properties with minimum floor area of 30 square metres, studio flats outside the M25 and freehold flats (England, Wales, Northern Ireland).
Challenging to mortgage property variants can include properties with land in addition to the domestic grounds up to a maximum property size of five acres, where the land is for normal domestic use, properties with a large number/scale of outbuildings, properties with more than one annexe or self-contained part of the property, properties with flying or creeping freeholds which comprise over 15% of the total floor area and properties that have a private water supply provided a contract is in place with an approved maintenance company for regular testing and maintenance.
Challenging to mortgage home variants include properties that will be assessed for flood risk, properties with any kind of structural defect, damp, dry or wet rot, some properties with sitting tenants or regulated tenancies, thatched buildings and Airey, Boot, Cornish Unit, Dorran, Dyke, Gregory, Hamish Cross, Myton, Newland, Orlit and Parkinson Frame.
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