Coventry Building Society has increased the age in which it will lend to buy-to-let investors to a maximum of 85 years, up from age 75. The minimum age at application will be 75, and it is available on all buy-to-let products.
The decision to increase the maximum age reflects the changing needs of borrowers, according to Coventry Building Society’s director of intermediaries Kevin Purvey.
He said: “With more people working later in life, buy-to-let investors may want to keep their investment property to supplement their income, or to help save for the future. We have therefore reviewed our lending policies to adapt to these changes, while of course remaining committed to lending responsibly.”