The Tipton talks to Ray Boulger, Senior Technical Mortgage Manager at John Charcol

Recently we caught up with Ray Boulger, Senior Technical Mortgage Manager at John Charcol - here's what he had to say about our later life lending strategy:

"Many lenders, both in the RIO and Lifetime markets, either exclude properties with a Section 106 restriction, such as limiting purchasers to those over a certain age, or only consider them by exception. At first sight this seems counter intuitive but some leases and other conditions attached to these properties by certain developers can be onerous. Tipton has addressed this by specifying that for the property to be acceptable security there must be no onerous conditions attached by the developer and it will be subject to valuer’s comments.

"This policy will actually be helpful to potential purchasers in some situations by highlighting a potential future problem which might otherwise have been overlooked.

"Tipton’s policy of stating it will accept retirement properties except in certain specified situations provides some useful clarity for brokers and their clients."

To learn more about our later life lending products for intermediaries please click here