Find out if Newcastle Building Society Equity Release or Pensioner Retirement Mortgages are the best deal for you.
- Free home valuation for people over 60 years old
- Plans with and without monthly interest payments
- Up to 70% loan to value
- 3.21% MER fixed for life
- No maximum age
- No fixed terms
- Ideal for people with a mortgage they need to repay
- No lender fees
Flexible Newcastle Lifetime Mortgage
Does Newcastle Building Society offer retirement remortgages for over 60s?
Yes, a Newcastle Building Society retirement remortgage over 60 is 3.95% AER fixed.
Does Newcastle Building Society offer a pensioner remortgage for retired homeowners over 60?
Yes, Newcastle Building Society pensioner remortgages for over 60s are 3.54% MER fixed.
Does Newcastle Building Society do later life remortgages for the over 60s?
Yes, a Newcastle Building Society later life remortgage over 60 is 3.66% MER fixed for life.
Does Newcastle Building Society offer a the best remortgage for retired over 60?
Yes, Newcastle Building Society the best remortgages for over 60s are 3.05% MER variable.
Does the Newcastle do a remortgaging option over 60?
Yes, Newcastle Building Society remortgaging options for over 60s are 3.59% APRC fixed.
Does Newcastle Building Society do mortgage calculators for over 60s?
Yes, a Newcastle Building Society mortgage calculator over 60 will show 3.48% MER fixed for life.
Does Newcastle Building Society do RIO mortgages over 60?
Yes, a Newcastle Building Society RIO mortgage for over 60s is 3.97% AER fixed.
Does Newcastle Building Society do retirement interest only mortgages for retired homeowners over 60?
Yes, a Newcastle Building Society retirement interest only mortgage for the over 60s is 3.57% APRC variable.
Over 60S Mortgages for people in retirement
Interest Only Mortgages For Over 65 Year Olds
Interest Only Mortgages For Over 65 Year Olds
Mortgages For Over 75S
Loans For Retired People
Newcastle Building Society Equity Release Explained
Retirement Interest Only Mortgage – remortgaging to release equity
Retirement Interest Only Mortgage
Mortgage Advisor Newcastle – Newcastle Building Society Equity Release
Mortgages For The Over 70S
© Newcastle Building Society.
1 Cobalt Park Way, Wallsend, NE28 9EJ. Newcastle Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Newcastle Building Society is registered on the Financial Services Register under the firm reference number 156058.
Small enough to care, big enough to deliver
Do you live in Newcastle upon Tyne? Need mortgage advice? Looking for a new mortgage deal? Look no further than Renew Advice for expert mortgage advisors and customer service.
Renew Advice is a trading style of Renew Financial Management based on Grey Street, Newcastle upon Tyne – right in the heart of the city centre.
Renew Financial Management is authorised and regulated by the Financial Conduct Authority and trades as not only Renew Advice but also as Renew Life.
Renew Advice focuses on mortgage and protection advice to not only people living in Newcastle but also across the whole of the North East. Furthermore, thanks to our experience in remote advice via Renew Life we can also provide mortgage advice not just in Newcastle or the North East but across the whole nation via video call, phone call and email!
Renew Life focuses on the protection of families via the arrangement of protection policies. We provide a telephony-based nationwide advised service arranging Life Insurance, Critical Illness Cover and Income Protection policies. Since Renew Life was founded we have protected over 50,000 families in the UK with insurance policies ensuring that if the worst was to happen they would have a financial provision in place to ease the challenges they face.
As Renew Life protects over 500 families a week we have a wealth of experience and fantastic relationships within the financial services industry that benefit Renew Advice not only in relation to our Newcastle and North East client base but right across the country.
If you live in Newcastle, the North East or indeed anywhere in the UK and need mortgage advice from a company that is small enough to care but big enough to deliver look no further than Renew Advice.
Why should I choose Renew Advice?
We are a mortgage broker who are authorised and regulated by the Financial Conduct Authority FCA Number 784184
Our Newcastle-based Mortgage Advisers have over 50 years of combined experience in the mortgage and protection industry
You will receive independent, impartial mortgage and protection advice from a qualified Financial Adviser
You will have a dedicated point of contact to handle your mortgage and protection case based in our Newcastle Head Office who will be available every week day via phone, email or video call for updates
Your choice of advice to get you the best mortgage deal and protection cover – this can either be face-to-face advice for our Newcastle and North East based clients, or you may prefer video call, phone call or email advice
You will receive a step-by-step guide to your mortgage journey
We have access to a wide range of mortgage products from a panel of High Street lenders including building societies
We also have access to more specialised mortgage lenders depending upon your individual circumstance and we will always stride to get you your mortgage offer
You will also receive expert protection advice to keep you, your family and home safe
Our Mortgage Team
Our Mortgage team are based in our Newcastle Head Office. Our Mortgage and Protection Director Dean Lowden has lived and worked in Newcastle all his life and is committed to providing the best quality advice and service to the residents of his beloved Newcastle, as well as the entire region and country!
Dean has a team of Mortgage Advisers working throughout the region which is constantly growing. You can always rest assured that with the Renew Advice mortgage team you will receive a values-driven service from a company with a national reputation but a smaller enough regional culture to provide top-quality mortgage advice in Newcastle and further afield.
Renew Financial Management is based in the city centre of Newcastle, on perhaps Newcastle’s most beautiful and prestigious street – Grey Street. Owned and ran by a Newcastle-based family Renew Financial Management already protects over 500 families per week via their Renew Life telephony-based protection advice service and the Newcastle based Directors felt it was the next natural step to take to start providing that service and more in a face to face environment in their home town – Newcastle, marking the creation of Renew Advice!
As well as being a family-run business Renew Financial Management has a very strong focus on values. If you visit our Newcastle Head office you will see our values displayed across our office walls to remind us all every day of their importance!. Our values are
• We care
• We deliver
• We improve
• We achieve together
• We maintain a sense of fun
Our values are at the forefront of everything we do so much so that we award our team members with Values Awards whenever they demonstrate a commitment to the values in their day-to-day job.
More about mortgages
Contact our Newcastle-based mortgage team today for mortgage advice about any of the following areas!
Residential retirement interest-only mortgage
A residential mortgage is the largest form of borrowing in the UK. It’s a mortgage taken out by one or more individuals to purchase a home to reside in. Contact our Newcastle Mortgage Advisers today to discuss your first-time residential purchase or residential remortgage.
Fixed-rate mortgage pensioner mortgage
A fixed-rate mortgage gives a fixed repayment each month for a number of years, typically between 2 and 5 years (the amount of time it is fixed for), this can protect homeowners from rising interest rates, however, you will not benefit from falling interest rates.
Tracker mortgage
A tracker mortgage is linked to the Bank of England’s base rate, with a pre-agreed markup.
For example, if the base rate is 0.5%, and the mark-up is 2%, you will pay 2.5%
Variable-rate mortgage for people over 65
A variable rate mortgage can be subject to interest rate changes at the discretion of the lender, this means at times your mortgage repayments will increase.
However, industry standards and the fear of bad publicity stop lenders from increasing rates too suddenly or dramatically.
Buy to Let mortgage for pensioners
If you are looking to purchase a property specifically with the intention of renting the property to someone else you will need a Buy to Let mortgage.
Renew Advice has significant experience with Buy to Let mortgages and works alongside North East-based lettings and estate agency Even more Properties who can assist you in finding a tenant and managing the tenancy.
Interest-only retirement mortgages
An interest only mortgage is a mortgage where you are not making repayments towards the principal loan amount, so you will never own the property. It is simply paying the interest on the mortgage. It is a way of affording a property and reducing the monthly repayments to an affordable level.
A few more FAQs
Is the mortgage advice independent?
Yes as mortgage intermediaries or mortgage advice is always independent and impartial. Our CeMap-qualified Mortgage Advisers have no affiliation with a particular lender and will always recommend what they consider to be the best mortgage to meet your needs.
Being a whole of market mortgage broker means that as mortgage intermediaries we have access to the whole mortgage market. Our Newcastle based Mortgage Advisers search and compare the entire bank and buildings society market to find the best offer for you, doing all the hard work and accessing mortgage products that are often not available direct to customers.
There is no prescribed criteria to determine how much you can borrow. The amount you qualify for will be determined by the purchase price of the property, the value of your deposit (known as loan to value), your income and monthly expenses. Our Newcastle based Mortgage Advisers are able to give you an immediate indication or a full decision in principle after a fact find session.
This should not prevent you from obtaining a mortgage. Our Newcastle based mortgage advisers have great success in helping clients with adverse credit. We specifically work closely with a number of lenders who are more favourable towards clients who have previously had difficulty sourcing finance. Give our Newcastle Mortgage Advisers a call today for more advice on affordability and loan to value.
What is the downside to equity release?
The downside is the roll-up compound interest. As you end up paying interest on the interest.
Is equity release really a good idea?
It could be a great idea if you need the money to pay off an old mortgage, yes.
Is there a better alternative to equity release?
You could sell your home and buy a cheaper home, or you could get a RIO mortgage if you have the personal income.
How does equity release really work?
It is simply a loan secured against your home. The interest on the loan is added to the loan amount, so the loan grows over time. But the benefit is there is no monthly repayments.
What is equity release – how does equity release work?
In simple terms, it’s a loan with no monthly repayments secured on a home.
How does an equity release mortgage work?
In the short term, you apply for the mortgage then you get the money. The interest on the loan is added to the loan, and the loan is repaid when you die or go into long term care.
How does Newcastle Building Society equity release work?
With the Newcastle building society, the equity release costs are very low. It is simply a loan with no monthly repayments, which is paid back when you die or go into long term care.
What are the different types of lifetime mortgages?
Some lifetime mortgages have monthly payments, interest only lifetime mortgages, and some lifetime mortgages have no monthly repayments.
What are the alternatives to equity release?
You could sell your home and buy a smaller home, or you could get a retirement interest only mortgage.
Can I pay back the equity release?
Yes, you can pay back your equity release early, or make partial payments to your equity release balance, however, there may be penalties you need to pay.