The rise of the centenarian landlord

The BTL mortgage market is considering loosening age restrictions on lending.

The changes in the budget giving access to pension pots has meant a flood of elderly landlords are expected to hit the rental scene.

BTL lenders are re-considering their lending restrictions to cater for the ballooning market in elderly investors. With many pensioners holding large capital pots in the existing residential properties lenders see them as a safe bet despite any fragility in their health.

Currently most BTL lenders have age restrictions on when a mortgage will mature, typically 75 is the limit.

However, Mortgage Works are launching a product with a application age limit of 70, with a 35 years term mortgage product!

Now that would make the landlord 105 years old by the time their BTL mortgage matures.

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