Mortgages for the elderly & disabled

BurnA

Can anyone recommend which lenders lend to elderly and disabled.? They are on pensions and benefits as their income.

My mum and disabled dad owe nothing on their mortgage but took out equity release several years ago for £25k, they now owe a whopping £42kk!! and need to release some more cash.
They have equity on the house and I am trying to get them to release money by remortgaging, paying off the equity release money and keeping £20k for updating the property (hence adding more value). Is this a better idea??

csgohan4

it will now depend on affordability and how much they have as income.


Engage broker who can look at them individually, but usually lenders only lend to a certain age and/or depending on income

jackieblack

Is downsizing an option?
This could release equity without the need for a mortgage.