The Teachers Building Society has increased its maximum lending age at end of term to 83 on all its standard mortgages.

The new maximum age limit, which is subject to a minimum mortgage term of five years, replaces the original maximum age of 70 on standard mortgages and the Teacher Later Years mortgage.

Andy Yates, business development manager at Teachers Building Society, said: “As a mutual organisation we are dedicated to helping people move onto and along the property ladder – even if they are looking to borrow later in life as an increasing number of borrowers are.

“We are committed to helping teachers and this latest update means that we are now able to support teachers more fully with a wider range of products – right through their career: from newly qualified teachers – to those in retirement.”