A growing market and a lender who can help
The older generation is growing fast yet they can face certain obstacles to borrowing. The Marsden offers conventional mortgages for those approaching or in retirement that are an alternative to equity release.
The picture by 2020 highlights a growing need as the older generation increases
With the 55+ generation looking to double by 2020 and 1 in 5 people carrying debts into retirement brokers are going to be dealing with more later life borrowers in the coming years.
Why are we experts in lending to this audience?
The Marsden were one of the first lenders to launch our tailored Older Borrower range giving your clients over the age of 55 access to a mortgage both into and during retirement. Here’s some of the reasons you should keep us in mind for your Older Borrower clients:
- We have a tailored Older Borrower product range built with the needs of your clients in mind
- Options for both fixed and discount products across a range of terms
- Our Older Borrower affordability calculator has been built specifically to take into account lifestyles for the 55+
- Interest only and repayment options available
- Our procuration fee on Older Borrowers is highest in the market for this range at 0.60%
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¹‘Overview of the UK population’, ONS, 25 June 2015.
²‘Lengthening the Ladder, the future of mortgage borrowing in older age. Building Societies Association, May 2017.
³Consumer Demand for Retirement Borrowing’, Louise Overton and Lorna Fox O’Mahony, November 2015. A report prepared for the Council of Mortgage Lenders (CML).