FROM July, building society Nationwide has said the limit for mortgage lending will be set
FROM July, building society Nationwide has said the limit for mortgage lending will be set to age 80 — with a maximum age at maturity of 85 for existing customers.
This means customers will now be able to take out a mortgage up to the age of 80. The increases will provide older customers with more flexibility to move home or release equity — perhaps as a sign of confidence in the market.
Nationwide’s move comes just days after the Halifax raised its maximum age at maturity to 80 in response to pressure against perceived ageism in the mortgage lending sector.