Nationwide is raising its age limit for people paying off mortgages by 10 years to 85, in the latest sign of the impact of rising house prices on buyers. The building society said the increase was.
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Britain’s biggest building society raises upper age limit for mortgages to 85 Britain’s biggest building society is increasing its maximum age for mortgages to 85, to meet a "growing demand" from.
The new Nationwide age limit comes into force in July, meaning those at 60 years old can take out a 25-year mortgage. Last week in May, Halifax also increased its upper payback age limit for mortgages.
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Halifax is increasing its age cap from 75 to 80 from 9 May. A Halifax broker note says the age rise will apply to all mortgages. of all building societies had maximum age limits of at least 80..
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The maximum age at which Nationwide will grant a new mortgage will be 80, with a five-year term. The move follows Halifax’s announcement last week that it is raising upper age limits from 75 to 80.
Halifax extended its age limit from 75 to 80 in May 2016 and from July 2016, Nationwide extended its age limit by 10 years to 85. However, there are sometimes limits to these extensions. According to Nationwide, the new upper age limit applies to its standard mortgages, but the loan amount would be limited to 150,000 and no more than 60% of.
From July, Nationwide is going to raise its limit for mortgage lending to 80, with a maximum age at maturity of 85 for existing customers. That means customers will be able to take out a mortgage.