The society will now accept applications on its standard later life range to borrowers up to age 95 years with a 25-year maximum term.
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.
