What is the Halifax Retirement Home Plan?

Posted on 3 February 2018 by V. Gunton


Halifax Retirement Home Plan


Hi V. Gunton,

In essence, the Halifax Retirement Home Plan is a conventional mortgage but with a twist.

The Halifax Retirement Mortgage is a scheme whereby the borrower can choose any of their existing new business mortgage rates and for the payment of the interest each month there was no final redemption deadline.  The mortgage ran until the property was sold, either on death or earlier.

This scheme was withdrawn with effect from Wednesday 17th August 2011.

Peter

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.

Share

You are currently offline. Some pages or content may fail to load.