More than 1,000 mortgage deals available to 80 years+ borrowers
Mortgage lenders are increasingly targeting older borrowers, with more than 1,000 deals available to retirees in their 80s.
The latest research from data firm Moneyfacts.co.uk, shows there are 1,078 mortgages available for borrowers taking a loan past their 80th birthday. A further 263 will let applicants borrow until 85 or over.
Aaron Strutt, product director at Trinity Financial, says: "Five years ago, many older people would have struggled to find a mortgage if they were in their 80’s - but there are now 602 mortgages available through lenders with no maximum age limit when the term finishes."
Halifax is the biggest high street provider and it will lend up to age 80, while Family Building Society, Hodge and Aldermore will all lend into a borrower’s 90s.
Source: Moneyfacts
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