Newcastle for Intermediaries has removed its maximum age limit for the repayment of standard capital-and-interest mortgages, expanding access to later life lending for brokers and their clients.
Previously, borrowers were required to repay their mortgage by the age of 80.
These latest changes remove the maximum age for repayment on all standard repayment available through intermediaries, direct and online channels.
The maximum age of 80 for interest-only products remains unchanged.
The change comes as demand for later life lending continues to grow.
According to UK Finance, Q1 2025 saw 38,510 new loans advanced to older borrowers – a 33.5% increase year-on-year, with the total value of lending rising to £6.1bn, up 42.6% compared to the same period in 2024.
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Building Society, said: “We know that many borrowers are living and working longer, and need more flexible lending options to match their circumstances.
“Removing the maximum age limit on our standard repayment mortgages opens up opportunities for brokers to better serve these clients, and ensures our criteria keep pace with the realities of today’s mortgage market.”
