Dudley Building Society has removed all upper age restrictions across its product range.
Previously, the society’s maximum lending age was 75.
Dudley head of credit Jonathan Moore says the society made the change as it believes “cases from older borrowers offer no more risk than younger ones”.
He adds: “For too long, older borrowers have struggled to find mortgage availability, and those options which did exist generally treated these borrowers as second class citizens by forcing them to borrow from a limited range. We consider all borrowers to be equally worthy of consideration, and by making our entire range available, we will demonstrate that we do not discriminate by age.”
Further, the society now accepts properties above four stories and has increased the maximum LTV available for second homes from 70 per cent to 80 per cent. It has also added sale of business, cash savings and sale of other assets to its list of acceptable interest-only repayment vehicles.