Julie Goodwin, Head of Business Development at Chorley Building Society discusses this growing trend.
It’s no surprise as life expectancy continues to grow, the number of those continuing to work later in life is also growing. Recent figures from the 2019 seasonally adjusted Labour Force survey by the Office for National Statistics suggests that by 2030, people aged 65 and over will account for 282,000 new UK employees out of a total of 546,000.
At Chorley Building Society we’re committed to supporting the over 65s. In fact, we have a wide range of mortgage products that are dedicated to later life lending
There are various people who can benefit from borrowing in their later years. We have helped members buy a new home into their 60s, 70s and later. We have also enabled members to stay in their family home by offering an alternative to equity release.
We continue to offer a flexible and common sense approach to underwriting with our later life mortgages. This also includes:
- No credit scoring
- No maximum age limit
- Interest only lending with no minimum income requirements
- We will accept sale and downsize as a repayment strategy
- No debt to income ratio
If you would like to find out more about our later life please visit our website – https://www.chorleybs.co.uk/mortgages/
If you would like to get in touch with our intermediary team please call 01257 235001 or email intermediaries@chorleybs.co.uk
