Newcastle for Intermediaries has scrapped its most age limit for the repayment of standard capital-and-interest mortgages.
Until now, debtors needed to clear their mortgage by the age of 80. Under the brand new standards, there is no such thing as a higher age cap for standard repayment merchandise.
The transfer comes as UK Finance figures present 38,510 new loans have been superior to older debtors in Q1 2025 – a 33.5% rise on the identical interval final yr. The whole worth of this lending reached £6.1bn, up 42.6% year-on-year.
Newcastle Building Society head of middleman mortgages Franco di Pietro says: “We know that many debtors reside and dealing longer, and wish extra versatile lending choices to match their circumstances.
“Removing the utmost age limit on our standard repayment mortgages opens up alternatives for brokers to higher serve these purchasers, and ensures our standards maintain tempo with the realities of in the present day’s mortgage market.”
The change applies to all standard repayment merchandise out there through intermediaries, direct and on-line channels. The most age of 80 for interest-only mortgages stays in place.
