Buy to Let for Older Borrowers
From the 2023 Mortgage Broker of the Year for later life lending. You are still eligible to get a buy to let mortgage as an older borrower. Contact our Bristol based team for expert advice
Many people think that older applicants will struggle to get a standard buy to let mortgage but actually that is not the case. The vast majority of buy to let lenders allow customers to take a mortgage up to age 80 at the end of the term and up to 20 have no maximum age at all at which the mortgage must end.
Buy to Let
Some retired borrowers might have a lower household income than younger employed borrowers. Although some lenders will require you to have a minimum private income in addition to the rent that the property will produce, at least 21 lenders do not require customers to have any minimum income at all. Having a reduced income following retirement is therefore not necessarily an issue either.
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Most lenders require you to own your own residential home too.
There can be some restrictions on older borrowers around eligibility for certain types of products such as houses of multiple occupation or holiday lets but in most respects, older borrowers are often able to access buy to let funding on the same basis as younger borrowers.
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So if you’re looking for an award winning later life adviser approved by the Equity Release Council then contact us today.
