Thursday 4th July 2019

Leeds BS scraps age limit for buy-to-let landlords

Leeds Building Society has removed the age limit completely on its buy-to-let mortgages, allowing more customers to borrow into retirement.

The lender has lifted age restrictions on when buy-to-let mortgages mature, continuing a trend of more mortgage providers being willing to lend to older borrowers.

Many buy-to-let lenders have lifted age limits on mortgages with a view to encouraging borrowers to stay in the market well into retirement.

Matt Bartle, director of products at Leeds Building Society, said: “We keep all our lending criteria and our product range under constant review and are always seeking out new ways to deliver on our mission to help more people have the home they want.

“This criteria change is the latest improvement we’ve made, supported by our understanding of customer need in this evolving market.”

He added: “Mortgage choice is always a highly personal decision and, for older borrowers in particular it’s essential that they take appropriate advice bearing in mind their financial position as a whole.”

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