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Buy-To-Let Opportunities For Pensioners

Buy-To-Let Opportunities For Pensioners

Buy-To-Let Mortgage Lenders Set To Offer Retiree’s Mortgages

Buy-to-let mortgage lenders are reconsidering their age restrictions following the Government’s announcement to give pensioners unlimited access to their retirement savings.

The move has prompted a specialist mortgage lender to offer pensioners under the age of 70 35-year mortgages, while retired people are being targeted with targeted  by buy-to-let adverts with senior appeal.

Managing Director of The Mortgage Works (TMW), Henry Jordan, said they have recognised that buy-to-let is a popular source of retirement income, stating “The recent budget announcements could see even more pensioners considering buy-to-let as an option for their retirement savings.”

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FCA Not Interested In Mis-Selling Of Interest-Only MortgagesFCA Claim There Is No Evidence Of
Mis-Selling Interest-Only Mortgages

The Financial Conduct Authority (FCA) has stated that there will be no further investigation into whether interest-only mortgages were widely mis-sold in the UK.

The FCA have concluded that the vast majority of borrowers with interest-only mortgage deals understood exactly what they were taking on, diminishing the chance of lenders facing mass claims for mis-selling mortgages.

Martin Wheatley, Chief Executive of the Financial Conduct Authority (FCA) responded to an enquiry from the Treasury Select Committee, saying: “The vast majority of customers understood the mortgage product they were sold and understand the need to repay the mortgage balance and have plans, albeit in some circumstances imperfect, on how to repay”.

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