Complete your Later Life borrowing journey with us
Whatever your later life borrowing need, from debt management to boosting your retirement lifestyle or gifting to loved ones, we have all the information and guidance you need to put you on the right path to a better financial outcome.
Educating, empowering and supporting your learning
Later life mortgages
More than half of people reaching the age of 55 are still repaying a mortgage, so it is little wonder that many of these people seek out ways to refinance their loan in order to free up cash from their home, reduce their monthly outgoings or simply to provide greater security in later life.
Whatever your later life borrowing needs and aspirations, we have a wide range of learning resources to help guide you through the maze of options. And when you are ready to take the next step, we can connect you with a specialist adviser to help you through the application process.
Head to our Learning Zone to find out more.
Did you know?
Later Life Borrowing typically refers to mortgages and other loans designed for the over-55s (although some products are available from 50+)
In 2021 there was an estimated £153.9bn of lending taken out by the over-55s in the UK
The equity release market is over 30 years old and even has its own set of industry standards and unique consumer protections
Source: AKG
Navigate the later life borrowing maze and personalise your learning experience with our unique Learning Zone
Discover your preferred learning style
Are you a visual, auditory, reading or kinesthetic learner? Perhaps you’ve never thought about which style of learning suits you best. Our unique quiz helps identify which Advice Guru resources will match your preferred style(s) and improve your learning.
Create a personalised learning account
After taking our quiz, you’ll be ready to start your learning journey and the next step is to create your own personalised learning account. Once you are registered, you can login at any time to work through the Learning Zone modules at your own pace and in any order you choose.
Track your progress from start to finish
Your learning account is a permanent record of your progress, showing you which modules and quizzes you have taken and how many you have left to do. You can share this information with your mortgage adviser to show them any gaps in your knowledge if you so wish.
WHICH TYPE OF LATER LIFE BORROWER ARE YOU?
We have five bespoke learning modules in our Learning Zone to suit the four different primary lending needs of later life borrowers
Most later life borrowers use the cash they release from the equity in their home for a variety of purposes, but there is usually one particular priority that drives the borrowing requirement:
Debt management
Repaying a significant debt such as an existing residential mortgage, credit card or personal loan to reduce monthly outgoings
Retirement lifestyle
Boosting retirement funds or making life more comfortable with home improvements, holidays abroad, a new car or even personal care
Gifting to family
Making a gift to family or friends, perhaps to help a child with a deposit for their first home or to pay for university fees
House purchase
Providing additional funds needed for the purchase of a dream retirement home or perhaps a second home for a holiday get-away
