Loughborough BS adds cashback to retirement range

Its new product range includes a variable term discount, currently 3.09%, with no ERCs, free standard valuation and £250 cashback.

The Society's range offers a maximum mortgage term of 35 years, no maximum age at the end of the term, and interest-only with downsizing with no minimum equity required.

It also offers capital raising for a variety of reasons and the ability to calculate affordability on the remaining loan size at the point retirement income replaces earned income.

Ashley Pearson, BDM at The Loughborough, said: “We offer sound mortgage solutions to people of all ages. Many borrowers who are coming up to retirement, or already retired are looking to move closer to family, improve their homes, take lifetime holidays and help younger family members finance their first homes, so it’s a pleasure to be able to make that possible and, with no upper age limit, we’re able to help more people with a range of specific individual needs.”