What do we do?

The Society does not have an upper age limit and offers mortgages to borrowers who are already in retirement, or who require mortgage terms that extend into retirement. 

We offer lending in and into retirement across our full product range, but please note that the LTV is capped at 70% for in retirement and at 80% for into retirement.

Our key criteria
Lending In and Into Retirement

Lending In and Into Retirement is permitted.

LTV’s for Into Retirement lending are capped at 80%, and for In Retirement they are capped at 70%

  • When assessing affordability on the expected, future retirement income, the review should reflect awareness, where feasible, of any changes that may impact the applicant’s lifestyle and/or future financial position
  • Evidencing of pension income – whether state and/or private
  • Any potential to draw-down/lump sum payments on initial funds is highlighted, ensuring this is factored into calculations and it is the ongoing monthly pension amounts that are included.  Where this is not yet known, lowest monthly income is assessed, to ensure ‘worst case scenario’ can be covered
  • Pensions payments expected should cover the term of the mortgage required, pension amounts versus expected longevity are reviewed
  • When assessing state pension, net amount is used
  • SIPP pensions will be carefully appraised, ensuring fund value is reviewed
Contact Us

Contact our Intermediary Team with any case queries you may have.

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