Darlington changes older borrower lending policy
Darlington Building Society has changed its lending policy for older borrowers looking to secure mortgages.
The lender will no longer offer interest-only mortgages where any part of the loan is taken into retirement and it has introduced a maximum age of 65.
For older borrowers looking to take capital repayment mortgages, the maximum age at the end of the term is now 75.
Aaron Strutt, product manager at Trinity Financial, says: "Darlington was one of the leading regional building societies particularly for older borrowers looking for residential and buy-to-let mortgages.
"Many of the lenders have tightened their lending into retirement policies over the last few years and the building societies are often the only option. We have access to a host of lenders offering mortgages to older borrowers, although they are often quite picky about whom they will lend to."
If you are an older borrower and you would like help to secure a mortgage, call Trinity on 020 7016 0790.
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