Buy to let age limit

Rottieland · 13 April 2024 at 12:21PM

Has any one got a list of lenders that will lend on a buy to let, until 85 or no age limit at the end of term?

Thank you

pjs493 · 14 April 2024 at 9:59PM

I’ve not come across any offering beyond age 70. A friend and I were just talking about this the other day. She and her husband are in the process of buying a house and were surprised their broker found a deal that offered them a 30 year mortgage that would take the younger of the couple to 70.

In their circumstances they don’t necessarily need 30 years because they both get a lump sum payment when they retire from their respective jobs which they plan to use to pay off any remaining mortgage at those times. But they’re looking at it as an option so that they can buy their forever home now instead of further down the line. The monthly payments will be within their current affordability and they’re both in jobs where they get annual salary increases and jumps in salary with expected promotions.

housebuyer143 · 15 April 2024 at 6:53AM

pjs493 said:

I’ve not come across any offering beyond age 70. A friend and I were just talking about this the other day. She and her husband are in the process of buying a house and were surprised their broker found a deal that offered them a 30 year mortgage that would take the younger of the couple to 70.

In their circumstances they don’t necessarily need 30 years because they both get a lump sum payment when they retire from their respective jobs which they plan to use to pay off any remaining mortgage at those times. But they’re looking at it as an option so that they can buy their forever home now instead of further down the line. The monthly payments will be within their current affordability and they’re both in jobs where they get annual salary increases and jumps in salary with expected promotions.

They are a good handful that lend to over 80-85, I used to have a list but don't any longer. A good BTL broker will know off the top of their head though.