Getting A Mortgage When Retired

[Budlet]

We want to buy a flat so are looking to get an interest only buy to let mortgage. We are both retired and have a very healthy pension pot which allows us to take about £30,000 pa. so repayments will not be a problem. However, High Street lenders are not willing to lend as we do not have proof of regular income. Can anyone recommend a lender?
Thanks in advance

[ubasses]

Have a look at this link which lists some Companies that do retirement interest only mortgages.
https://www.which.co.uk/money/mortgages-and-property/mortgages/types-of-mortgage/retirement-interest-only-mortgages-explained-a9z9k0h9lbfy.
The information you give for annual income would need clarification with the Mortgage Companies, ie is the £30,000 guaranteed for life like an annuity or is it a drawdown where the the capital could run out if you live to a ripe old age.
A Mortgage Broker to start with may be a good idea (even if you would prefer to go direct to the lender) just to get all the info you information you need.

[Budlet]

Thank you

[Peter Pedant]

google - UK mortgages for pensioners

my own medical history is terrible so I have never tried - people say you cn get them to 75

[bednobs]

if you get 30k pa pension, i dont understand why you cant prove that

[ubasses]

Hi Peter, these Mortgages are more like a halfway house between standard mortgages and lifetime equity release where the interest rolls up. The interest is paid monthly, but the capital will not be paid off until death/care home move. I don't know if they are all the same but ad hoc payments are accepted when possible to reduce the capital as well.
It means that a guaranteed sum will available to be left to heirs at the end of the day.