Family and National Counties commit to older borrowers

Family Building Society and National Counties Building Society have re-affirmed their longstanding commitment to lending to older borrowers.

While many lenders have only recently eased restrictions on lending to people past retirement age, National Counties has been offering brand new mortgages to people as old as 89 since 2010.

The society said it has a long record of offering mortgages based on individual needs and circumstances.

It said that more people will have to work well past traditional retirement ages and it is extraordinary they have been so poorly served by major lenders.

National Counties launched Family Building Society in 2014 specifically to meet the demands of inter-generational lending.

Over the last year, National Counties and Family say they have continued their long-standing support of people who want to borrow into retirement and even up to their 90s, with a common sense approach by experienced underwriters.

Keith Barber, director of business development at National Counties and Family BS, said too many older borrowers are being routinely rejected by the major high street banks, irrespective of either their ability to pay.

“Now, and rather belatedly, many lenders have pledged not to discriminate against older borrowers. Well, the proof of the pudding will be in the eating.”