Dudley Building Society has brought back its lending into retirement option for borrowers looking to extend their mortgage term beyond their planned retirement age.
The option is available across its whole range but only to those with borrowing requirements up to 75 per cent loan to value (LTV). There must also be more than 10 years from the date of completion to retirement.
The mutual began its phased return in August with residential products up to 75 per cent LTV before increasing to 85 per cent LTV this month.
Sam Ward, commercial director of Dudley Building Society, (pictured) said: “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.”
She 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.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
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