What Age Can I get a Buy to Let Mortgage Until?

Mortgages With No Upper Age Limit are Available.

Recent lending policy changes mean you can now get a buy to let mortgage with no upper age limits.  There are some restrictions; you must be an experienced landlord, more about this below and you must have at least 35% deposit or equity if you want to re-mortgage.

I can see two scenarios where this would be a perfect solution.

Expanding your Buy to Let portfolio in to retirement.

This mortgage will allow you to buy further properties to expand your portfolio, whether you are retired already  or you want to take a mortgage in to retirement without want the pressure of a repaying the mortgage within a limited time.

Re-mortgaging an existing Buy to Let mortgage.

Let’s say you already own a Buy to Let or two and you are either close to retirement, in retirement or you know that the mortgage will expire beyond retirement.  You don’t really have any funding to repay the mortgage other than selling the property, but that’s not what you want to do.  Switch to this mortgage and have the flexibility of extending the term with no upper age limit.  A perfect solution to allow you to retain your Buy to Let portfolio and the income it derives for you.

Experienced Landlord, is this you?

Different lenders have their own views on what defines an experienced landlord, which could either be; you have owned and let a property for more than 6 months, right up to owning a minimum of 4 Buy to Let properties. Let us know about your circumstances and we can let you know if you are considered an experienced landlord.

What Next?

As always, professional advice should be sought to ensure this is the right mortgage for you, both now and for your future plans.  Give me a call if you have any questions for a free no obligation chat.

For more information or to get a quote call one of our professional and experienced Mortgage Advisers on 01233 512012