Retirement: Banks offer ‘later life’ mortgages to meet UK ageing population – The Florida Post

It found that 28 per cent of the UK population are saving less than six per cent of. says workers should aim to save at least 12 per cent of their yearly salary for retirement each year – including.

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With the average mortgage in retirement worth around 30,000 and some older people determined to trade up, not down, the challenges for borrowers are intense. Here is the latest state of play.

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Last week, Nationwide launched a new range of retirement mortgages to help older borrowers boost their retirement income and provide them with more flexible options to use the equity in their property. This week, Santander increased the maximum age and term on its range of buy-to-let mortgages, to meet the demand from its older customers.

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