Loughborough adds cashback to retirement range
Loughborough Building Society has added cashback to all its borrowing into retirement products.
Across the full retirement range The Loughborough offers no maximum age at the end of the term, a maximum mortgage term of 35 years, interest only with downsizing with no minimum equity required and loan-to-value (LTV) of 60% if the term ends after age 80.
It also offers the ability to calculate affordability on the remaining loan size at the point retirement income replaces earned income and capital raising for a variety of reasons.
Ashley Pearson, BDM at The Loughborough, said: “We offer sound mortgage solutions to people of all ages.
“Many borrowers who are coming up to retirement, or already retired are looking to move closer to family, improve their homes, take lifetime holidays and help younger family members finance their first homes, so it’s a pleasure to be able to make that possible and, with no upper age limit, we’re able to help more people with a range of specific individual needs”.