Leeds Building Society lending into & in retirement criteria

As Best Lender for Later Life Lending[1], we know a thing or two about older borrowers.  With the lending into retirement market continuing to accelerate, having increased in value by 32% in the last two years alone[2], it’s important to us that we continue to review and improve our criteria to better serve the evolving needs of consumers.

That’s why, following valuable intermediary and borrower feedback, we’ve:

  • Increased the maximum age at term end for residential mortgages to 85.
  • Removed the maximum age at term end for Buy to Let (BTL) mortgages. This includes Portfolio Buy to Let, Houses in Multiple Occupation and Holiday Let mortgages.

If you have your client's details handy, you can use our quick income assessment tool for residential mortgages to get an idea of what income will be used to assess their affordability. It’s important to remember that retirement age is your client’s stated retirement age or 70 years, whichever comes first.

Please note, we do not offer lending into retirement across our Interest Only, Shared Ownership or Shared Equity mortgage ranges.

If you have any questions, or would simply like to know more, contact your dedicated Business Development Manager.

[1] Legal and General Mortgage Award for Best Lender for Later Life Lending 2019

[2] UKF data table S21: Age mortgage ends for new regulated mortgages, UK.

Please note:

Leeds Building Society only accepts mortgage applications from intermediaries where they are providing an advised sales service, with the exception of Buy to Let & Holiday Let applications. It is the responsibility of the intermediary to ensure that all applicable law including, without limitation, the Financial Conduct Authority rules on advised mortgage sales are complied with including, without limitation, the provision of adequate explanations.

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