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Seniors Finance

If you’re over 60 with your own home
and would like to turn your bricks and mortar into cash
Lucas Mortgage - Mortgage Services for Seniors
Take a lump sum or regular tax-free income and enjoy it!

- You will retain full ownership of your home
- You can live there for as long as you wish
- No repayments until you sell or pass away
- No penalties if you or your family want to clear the mortgage

The number of people aged 60 and over quite rightly represents a significant market for all kinds of goods and services. People are living longer and healthier lives. For most people the family home represents the most valuable asset.  Until recently there were no real options for the over 60’s to take advantage of the enormous increases in the value of their homes. For some people, downsizing can be an attractive option.

However we have found that many people do not want to move away from their home property. Instead they want to keep their home but would like to access some of the great wealth tied up in the home. Some of our clients want to access a lump sum whilst others wish to top-up their pension income.

The mortgage products available to Seniors allow you to borrow a reasonable percentage of the current value of your home. Interest is charged every month on the mortgage, but you are not required to make any repayments during your lifetime. You are not selling a share of your home to the bank. This is just a mortgage. Companies offer both variable and fixed rates on such mortgages. The variable rates are guaranteed never to increase beyond a predefined level and the fixed rates are fixed for life. Where a couple is involved, the death of the last survivor will mean that the property will be subject to the person’s will. The family can pay off the mortgage or can put the property on the market. Normally the bank expects to be paid within 12 month’s of the client’s death.

We will be delighted to sit down and go through everything in detail with you and would encourage you to bring family members to any meeting. If you do decide to proceed, you may of course use your own solicitor to check over everything before making any commitment. You can also choose to repay the mortgage in the future.

For a confidential chat on the options available to Seniors,

Please contact Lucas Mortgage Finance
Phone 01- 6276000
Email: info@lucasmortgage.ie
The Loan Arranger Ltd, t/a Lucas Mortgage Finance is regulated by the Financial Regulator.