The UK population is gradually getting older, as people get healthier and fertility rates decline. In 2016, UK residents aged 65 years and older represented 18% of the total population and by 2041 this figure is expected to rise to more than quarter of the total population.* 

At Buckinghamshire Building Society, we understand that later life circumstances can make your client’s finance picture more complex.  Our empowered underwriters review each case individually so that they can make the right decision for your case rather than applying a one size fits all mentality.

Did you know that our later life propositions have no maximum age at the start or end of the mortgage term? As a result, we can help your clients to remain in their family home for as long as they wish. Read more on our flexible approach with our latest case study.

Flexible mortgage lending from Buckinghamshire Building Society

Lending Scenario: Mr Anderson had reached the end of the term on his interest only mortgage. At the age of 83, this meant that his existing lender declined to extend the mortgage.

Buckinghamshire Building Society Solution: Our underwriter looked at the remaining loan on the house, combined with a view of Mr Anderson’s pension and was happy to lend to him on an interest only basis for a further 40 years.

Great news for our borrower: We were delighted to give Mr Anderson peace of mind that he could stay in his own home for as long as he wanted to.

Find out more about our later life lending products.

Names have been changed.

*Source: Office National Statistics, How our Population is Changing and Why it Matters