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BTL landlords can repay their mortgage until the age of 99!

Older buy-to-let investors are no longer being overlooked by mortgage lenders with the latest move by Gatehouse Bank to increase its upper age for mortgage maturity from 85 to 99.

The change - which applies to when a mortgage term ends, not the maximum age a borrower at which can apply for a loan - will not apply to customers who rely on non-rental income to meet affordability criteria.

Gatehouse will also now allow refinancing within six months of purchase for all buy-to-let customers, subject to an enhanced due diligence process.


In addition, Gatehouse has amended its buy-to-let products for expats and international residents, with the maximum finance-to-value increasing from 75% to 80% in line with products for UK residents.


The minimum finance amount has also been reduced, from £75,000 to £60,000, and the minimum property value cut from £100,000 to £75,000 for expats and international residents.

The maximum age increase and reduction of statements also apply to HMOs and multi-unit freehold blocks (MUFBs).

Charles Haresnape, CEO of Gatehouse Bank, commented: “We are always looking at ways to improve our buy-to-let and Home Purchase Plan ranges to ensure we make the application process as easy as possible for our brokers and customers.

“We are able to make the latest changes to our criteria because of our human approach to underwriting, which means we take our customers’ full financial circumstances into account.”

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