Over 55 mortgage specialists

Here at Aspire Financial Planning, we are experts in Over 55’s mortgages including equity release and lifetime mortgages. We can help you decide if these are suitable for your situation and take care of all the arrangements including finding a specialist solicitor to handle the legal side, all for low fees, research has shown that some companies charge over £1,500 for this service so make sure you talk to us to check out our low fees.

Don’t forget all our initial consultations are free even if you need more than one before your confident to make a decision.

Over 55 Mortgages can be ideal to help with situations including:

  • Assisting your family
  • Releasing the cash in your home
  • IHT protection
  • Clearing an interest only mortgage
  • Buying a new home
  • Clearing debt

We work with all the specialist lenders to allow over 55’s the freedom to do what they want with their retirement years without needing to sell their home or worry about high mortgage payments.

Interest Only Mortgages

As independent financial advisers and mortgage brokers we have access to every lender and there are a new breed of interest only mortgages designed for the over 55’s that you won’t find on the High Street. If your existing interest only mortgage is coming to an end and can’t be extended we have lenders that may be able to help.

Equity Release Mortgages

Equity release mortgages are designed to unlock tax-free cash that is currently tied up with your property whilst giving you the freedom of no monthly mortgage payments or having to move from your current home.

They are designed to give you the money you need now with the agreement that the interest is added at a set rate and that the mortgage is cleared when you die or go into long-term care and your property is sold – a reverse of the normal mortgage process.

Aspire Financial Planning offer two important guarantees for anyone arranging an equity release mortgage with us:

  1. A right to remain in the property for the duration of your life or until you go into long term care and no longer need to live in the property.
  2. The amount you owe will never be more than the value of the property (known as no negative equity guarantee) so there is never a balance left over after the sale of the property for anyone to pay.

Age and the value of the property are the two factors that dictate how much you can borrow although some lenders don’t have a maximum age for their schemes. All the lenders we work with are members of the Equity Release Council and we ensure everyone receives the best advice for their situation. We tailor our service to match your needs and ensure you have all the information you need before making a decision.

Lifetime Mortgages

At first glance, lifetime mortgages look much the same as other mortgages – you take a loan secured against your property. But the difference with a lifetime mortgage is that they are designed specifically for people aged 55 and over and as thier name suggest can run for the rest of your life if needed.

Depending on which provider we choose together you have the option of making no interest or capital payments at all, full monthly interest payment or choosing to make payments when you can afford to. This amount of flexibility makes these mortgages very different to normal high street mortgages.

Most lifetime mortgage lenders look at the value of the property, not your income and there are no concerns about re-mortgaging at some point in the future because the loan is only due when you either die or go into long-term care. Age and the property value do factor into how much you can lend and you must be 55 to be considered.


Get in touch with the team.

Call: 01242 248181

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We at Aspire Financial Planning in Cheltenham are focussed on making your money and assets work harder for you. Whether you want expert mortgage advice, to relase equity in your home or to make plans for your pension or financial investments – we have the knowledge and experience to guide you to your goals. For friendly, jargon-free advice from a local independent financial adviser in Cheltenham, get in touch with our team today.