Britain’s biggest building society is increasing its maximum age for mortgages to 85 to meet “a growing demand” from customers “to borrow in later life”.Nationwide said it will increase its current maximum 75 year age limit by 10 years from July.The announcement comes as Halifax raises its age limit for mortgages from 75 to 80 from today.
Nationwide said its change could enable pensioners to borrow to move house or to meet other needs.
The option will be available on all standard nationwide mortgage products up to 60% loan-to-value (LTV) and with a maximum loan size of £150,000.
World News:Nationwide Raises Mortgage Age Limit To 85
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