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The Ejector Seat: Release an income booster before the end of the mortgage term
What is the Ejector Seat?
Our maximum lending age is 85 years old. This means that the mortgage needs to be repaid by the eldest borrower's 85th birthday. Does this then mean that your income booster is restricting your mortgage term, so you need to *eject* them before their 85th birthday?
Does your Income booster have plans to buy their own property and wants to know when they can be *ejected* from the mortgage agreement?
Or does your Income Booster simply want to be *ejected* before they retire?
That’s where the Ejector Seat feature comes into play.
With our Booster Release calculator we can work out the point during the mortgage term, one or more income boosters can be *ejected* from the mortgage.
The calculation assumes everything stays the same within the buying group (no pay increase, no property value increase), with the loan size decreasing over time due to mortgage repayments.
The ejector seat is not viable for a large number of cases. But it can be an invaluable tool.