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Leeds Building Society is entering the market for IO mortgages to borrowers aged 55 to 80

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Leeds’ new mortgages are being offered to borrowers aged 55 to 80.

The loans need to be repaid on a specified life event. This could be the sale of the property, moving into residential care – or the death of the borrower.

Borrowers will need to demonstrate that interest-only repayments are affordable throughout the term of the loan.

Leeds is offering three deals at fixed rates for two, three or five years. Yahoo

What could possibly go wrong?

Edited by rollover

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What will the price/cost be.......the risk is priced into everything.

Who would choose to pay rent as well as having the responsibility of the care and upkeep long into retirement?.......hope the pensions will cover.;)

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Isn't this just a free way for Leeds Building Society to get houses for free? Create money from thin air to lend > borrower pays you back with real money or doesn't and LBS gets the house. Probably not that simple?

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Lets have a look a the Post Office (BoI) Retirement link IO mortgage


'Ideal for those who ultimately want to downsize and repay the loan from the sale proceeds before the age of 80. Your monthly payments will cover the interest, and the capital amount will need to be repaid at the end of the term.

You will need to repay this mortgage before the oldest borrower reaches 80 years of age

Only available to those who are mortgage free (unencumbered)

You may borrow up to 30% of your property value

Your property must be worth at least £250,000 plus the value of your loan e.g. if you borrow £25,000 your property must be worth at least £275,000.'

Good luck on that.



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  • 244 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
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      • Even
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