A recent news story published online by What Mortgage, says that building societies are looking to review their maximum age limits for mortgage borrowers, to help support those who need mortgage finance heading towards and in retirement.
“This is fantastic news”, says David Blake of Which? Mortgage Advisers.
“For some time now we have seen a minority of lenders who have taken a common sense approach to lending to people past the age of 70/75 when the circumstances fit. It would be fantastic to see more lenders adopt this approach to maximum lending age as these types of borrowers will benefit greatly.”
Read the full article here