Dudley BS reintroduces ‘lending into retirement’ option

01 February 2021

A ‘lending into retirement’ option is again available for borrowers looking to extend their term beyond their planned retirement age, across the Dudley Building Society range.

The Society, which started lending again in August in a ‘phased return’ to the market, has decided that the time is right to offer greater flexibility to a significant section of borrowers.

The only conditions being that LTV does not exceed 75% and there must be more than ten years from the date of completion to retirement.

Commercial Director, Sam Ward, commented, “Since August 2020 we have gradually reintroduced the major parts of our successful product and criteria proposition with which our introducers were familiar. We now feel it is the right moment to bring back an option for customers who might have been restricted by wanting to borrow up to and into retirement.”

Sam added, “Part of our remit as a building society, which we take very seriously, is to accommodate as many of our members and introducers as we can. Dudley is delighted to be able to provide for particular niches like this one, where customers are disadvantaged simply due to their age.”