Beverley Building Society
Beverley Building Society was founded in 1866 and is one of the UK's oldest established societies. With a record of 150 years of business in Beverley, the Society is a major financial institution in the town and has served generations in the area.
Today the Society concentrates on its core services of mortgages and savings. They pride themselves on providing a professional and friendly service to all their customers and their flexible policy in assessing mortgage applications means that each customer is considered on their own merits.
Beverley Building Society’s RIO mortgage is currently a 3-year discounted rate mortgage with a maximum lending of 55% of the value of the property (LTV) and they use an income multiplier using either single or joint incomes (pension or salary) to determine the amount they will lend. This means that for joint borrowers, your single incomes must be able to pay your monthly mortgage repayments. While the minimum age to apply for a RIO mortgage is 55, the society does not apply a maximum age.
Do the high street banks offer lifetime mortgages?
The ‘big 6’ high street banks - that is Halifax, Barclays, Lloyds, HSBC, Santander and Royal Bank of Scotland (RBS) don’t currently offer lifetime mortgages or other equity release plans themselves.
Recently, Nationwide entered the lifetime mortgage market but instead of offering its own range of plans, it refers its members to Pure Retirement
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We understand that with different options to choose from, it can be difficult to find the right home
reversion plan provider for you. That’s why our team of expert and impartial advisers are on hand to answer
all your questions and find the right solution for you.
It costs nothing to give us a call and the first and only person you’ll speak to is your local adviser. That’s because we don’t have call centres. Just highly qualified and experienced advisers ready to help you.