Tipton & Coseley enhances older borrower criteria
Tipton & Coseley Building Society has made several changes to its mortgage criteria for older borrowers.
"These latest criteria changes are designed to help provide more options and flexibility for borrowers in later life."
The Tipton will now accept applications on its standard later life range up to age 95 years on a maximum term of 25 years.
Additionally, the Tipton will now take into account income from pension pots that are not currently being drawn. This is subject to receiving confirmation from their pension provider of the value and level of drawings that pension holders are entitled to withdraw.
Richard Groom, head of sales at the Tipton said: “These latest criteria changes are designed to help provide more options and flexibility for borrowers in later life.
"Later life borrowing is clearly a growing market and the Tipton is committed to supporting those who are approaching retirement or are already retired.”
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