Leeds tighten their maximum age lending criteria
Leeds Building Society is the latest mortgage lender to tighten up their maximum age criteria and make it harder of older borrowers to get a mortgage. They have lowered the maximum age borrowers can be at the end of the mortgage term from 80 to 75.
Earlier this month Newcastle Building Society and Skipton Building Society both lowered their maximum age at the end of the mortgage to 75.
Aaron Strutt, product manager at Trinity Financial, says: “Many of the biggest mortgage lenders have tightened their qualification criteria and it is making things more difficult for older borrowers.
“There are still a couple of the building societies happy to lend to older or retired borrowers but the list is getting shorter. The remaining lenders can pick and choose who they offer mortgages to and they are being inundated with applications.â€
If you are struggling to find a mortgage or have been declined because of your age, call us on 020 7016 0790.
September 20, 2013
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
