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Barclays increases maximum age for buy-to-let borrowers

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Written by: Samantha Partington
25/01/2016
Barclays has raised the upper age limit on its buy-to-let moretgage applications from 70 years old to 80, after receiving a growing number of applications from older borrowers.
Barclays increases maximum age for buy-to-let borrowers

Barclays has increased its maximum age limit on its buy-to-let mortgage products from 70 to 80 after receiving a growing number of applications from older borrowers.

The lender said research demonstrated people were living longer which meant landlords wanted to keep their properties for a longer period into retirement.

Barclays has identified an increased appetite from applicants over 50 years of age to invest property which influenced its decision to raise its upper age limit.

A maximum age limit of 70 still applies to its residential mortgage range. In November, the Building Societies Association began a 12-month review into age caps on mortgage lending in the mutual sector. Since then Cambridge and Dudley Building Societies have removed their upper age caps.

 

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