The Hinckley & Rugby Building Society has removed any maximum age limit for the term end of its complete range of mortgages, including residential and buy-to-let.

75 years old was the previous standard maximum age at term end. Responding to requests from mortgage brokers to offer later life lending, Hinckley & Rugby has decided to do away with a fixed age limit and consider each application individually.

Later life lending cases will go before its Mortgage Referrals Committee (MRC) for consideration by six senior staff, including the chief executive and operations director.

Carolyn Thornley-Yates (pictured), the Hinckley & Rugby head of sales and marketing, said: “From talking to brokers every day we have become increasingly aware of the opportunity for a common sense, manual lender to look in depth at cases where the borrower would be 75-plus at term-end.

“People are living longer, working later and, in increasing numbers, wanting to finance a mortgage into part-time employment and their retirement. There is a combination of house value, income, loan to value and other circumstances where lending into a borrower’s 80s and 90s is affordable.

“Having six highly experienced senior members of our Mortgage Referrals Committee available daily to consider such cases means we can look at the invidual circumstances in the round and where we can lend, we will lend.

“Until now, we were constrained by our maximum age limit. Removing this completely better reflects how society is changing and gives brokers and their customers the message that you are never too old to explore your mortgage options with Hinckley & Rugby.”