At The Loughborough, we understand that lifestyles have changed and with them financial needs.
Our Borrowing into Retirement mortgages have been specifically designed for older borrowers who are in or nearing retirement and need a mortgage term that will take them beyond the age of 80. We have no upper age limit which means you can take a mortgage for up to 35 years regardless of your age at the time you apply.
The minimum loan we’ll consider is £25,000 and the maximum is £500,000. Our Borrowing into Retirement products are available on an interest-only or repayment basis, with maximum loan-to-value (LTV) limits as follows: up to 80% if borrowers are under the age of 70 at the start of the mortgage, and up to 70% if borrowers are aged 70 or over at the start of the mortgage. These products are available for purchase or re-mortgage of property in mainland England and Wales.
The Building Societies Association has published a guide entitled ‘Can I get a mortgage at my age?’ which you may find useful and you can find the answers to some questions you may have on our Borrowing into Retirement FAQ’s.
