Tipton & Coseley raises maximum lending age

Michael Lloyd

November 25, 2019

Tipton & Coseley Building Society has changed its criteria to now accept applications on its standard later life range to borrowers up to age 95 years.

A maximum 25-year term will apply. No maximum term is applied on its Retirement-Interest Only (RIO) products.

Richard Groom, head of sales at the Tipton, said: “These latest criteria changes are designed to help provide more options and flexibility for borrowers in later life.

“Later life borrowing is clearly a growing market and the Tipton is committed to supporting those who are approaching retirement or are already retired.”

For those with a pension, the Tipton can now take into account income from pension pots that are not currently being drawn.

Sign up to our daily email