Lending into retirement

PLEASE NOTE:

We are currently only accepting new mortgage applications up to 75% loan to value (size of mortgage in relation to the value of the property.)  Existing borrowers looking to transfer their existing mortgage can do so at a higher loan to value, subject to product terms and conditions. 

Maximum loan to share for Shared Ownership mortgages remains at 95%.

Please contact us for further information. 

Getting a mortgage in retirement doesn't have to be difficult.

At Newbury Building Society, we understand there are many different reasons why you want a mortgage which takes you into your 60s, 70s and beyond. For example, you may want to free up equity to fund a holiday home or give your children and grandchildren a helping hand on the property ladder. 

Upper age limit for mortgage lending to 90 years

We believe you shouldn't be limited when applying for a mortgage and that's why we lend up to the age of  90 across our entire standard mortgage range. This means that for new mortgage applications across our residential products, the term may be allowed to run until the borrower's 90th birthday.

Retirement Interest-Only (RIO) mortgage

Our Retirement Interest-Only mortgage is designed to support borrowers in later life who do not want to downsize their current property and wish to remain in their home. 

• We lend to those aged 60 and above who are retired and in receipt of their pension or other ongoing income
• The RIO mortgage is termless interest-only so you have it for as long as you need it
• We lend to those who are purchasing or remortgaging their residental home subject to product terms
• Existing borrowers are able to transfer onto the product to borrow additional funds

Mortgage appointments

Appointments are available by video call, by phone or in branch. We have Saturday appointments available and can also offer same day appointments. See our making a mortgage appointment page for further details or click contact now.