Teachers Building Society has increased its maximum lending age at end of mortgage term from 70 to 83.
The new maximum age limit is subject to a minimum mortgage term of five years and replaces the original maximum age of 70 on standard mortgages and the Teacher Later Years Mortgage.
Teachers Building Society business development manager Andy Yates says: “As a mutual organisation we are dedicated to helping people move onto and along the property ladder – even if they are looking to borrow later in life as an increasing number of borrowers are.
“We are committed to helping teachers and this latest update means that we are now able to support teachers more fully with a wider range of products right through their career, from newly qualified teachers, to those in retirement.”
Teachers Building Society provides mortgages to teachers and education professionals in England and Wales and also to people of any profession in Dorset, Hampshire and Wiltshire.