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Life Expectancy Growing by Five hours a day

15 February 2017

Family BS

A recent article in the Guardian said that “life expectancy is growing by five hours a day. In 2014, the average age in the UK exceeded 40 for the first time. Almost a third of people born today can expect to live to 100”*. Stark facts about improving healthcare. Yet there’s a downside...or is there? People are living longer. Great news. However, it’s still difficult for many people to find a mortgage when they’re heading into or are already in retirement as so many lenders with their computers still say “no”. 

The Family Building Society are not one of those lenders. 

They’ve noticed a lot of you are trying to support this growing number of older borrowers and they want to remind that you that they’re here to support you in these conversations. 

You may have already seen their latest advertising campaign to raise awareness of how they can support you. Take a look at their website for all the information you need on lending criteria, rates and their affordability calculator. 

A reminder of their USPs

They've been committed to supporting this underserved market for years and that remains unchanged. Take a look at their USPs below.

  • Their terms are generous and they'll lend when other lenders still say "no" - they've lent up to a 5 year term to an 89 year old and also have a maximum 16 year term for a 70 year old.
  • They offer huge flexibility by lending into retirement - they've no upper age restrictions on their products (although the max mortgage term may be limited).
  • They'll also take into account income earned up to the age of 70 and pension income beyond that. Additionally, they accept rental and investment income that can be evidenced on an SA302.

* https://www.theguardian.com/uk-news/2017/jan/15/hard-brexit-means-retiring-later-britons-warned.


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