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The mortgage market is constantly changing. What is striking is that more and more people over the age of 55 are taking advantage of this. The number of mortgage applications in this age group has increased by around 20% in the past year. No surprise, because many people in this age group have paid off most or all of their homes. The excess value has often increased considerably and that offers opportunities.
Many people over 55 choose to adapt their current home so that they don't have to move when they get older. This includes making the home life-cycle resistant, for example with a stairlift or a bedroom and bathroom on the ground floor.
Such a renovation can often be financed with the excess value you have accrued; you can then increase your current mortgage. However, there are more options for using your excess value. Perhaps you want to supplement your pension, make a donation to your (grand) children, take a nice trip or invest in a second home. At Van Loon, we are happy to think along with you.
Are you 57 or older? Then the bank will also look at your expected pension income. This affects your maximum mortgage. This is good to think about, but no reason to worry: with savings, excess value and special arrangements for seniors, more is often possible than you think.
We've created a white paper for you that explains exactly what your options are. This gives you a quick insight into the options. Download it for free white paper via this link and we will contact you as soon as possible.