The Dudley Building Society range now once again includes a ‘lending into retirement’ option for borrowers looking to extend their term beyond their planned retirement age,
The mutual, which started lending again in August in a ‘phased return’ to the market, has stated that the only conditions being that LTV does not exceed 75% and there must be more than 10 years from the date of completion to retirement.
Sam Ward (pictured), the Dudley’s commercial director, said: “Since August 2020 we have gradually reintroduced the major parts of our successful product and criteria proposition with which our introducers were familiar. We now feel it is the right moment to bring back an option for customers who might have been restricted by wanting to borrow up to and into retirement.
“Part of our remit as a building society, which we take very seriously, is to accommodate as many of our members and introducers as we can. Dudley is delighted to be able to provide for particular niches like this one, where customers are disadvantaged simply due to their age.”