Borrowers will now be able to extend their term beyond their planned retirement age, across the lender’s range.
Dudley Building Society has reintroduced a lending into retirement option.
Borrowers will now be able to extend their term beyond their planned retirement age, across the lender’s range.
Conditions of the retirement lending option include it not exceeding 75% loan-to-value (LTV) and there must be more than 10 years from the date of completion to retirement.
According to the society, market conditions are now strong enough for it to return to offering greater flexibility to borrowers.
Sam Ward, commercial director of Dudley Building Society, said: “Since August 2020 we have gradually reintroduced the major parts of our successful product and criteria proposition with which our introducers were familiar.
“We now feel it is the right moment to bring back an option for customers who might have been restricted by wanting to borrow up to and into retirement.”
“Part of our remit as a building society, which we take very seriously, is to accommodate as many of our members and introducers as we can.
“Dudley is delighted to be able to provide for particular niches like this one, where customers are disadvantaged simply due to their age.”
