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Minimum - 5 years
Maximum - 40 years subject to the customer’s age at application and the end of the term. Terms of over 35 years will be restricted to 4.5 LTI.
👫 Customer Scenario 1 John and Sarah are both 66 years old and they are looking to retire at age 70 with a respectable pension income. They would like to buy a home for themselves to live in and would like to take the mortgage term to age 85 to keep the payments low.
👫 Customer Scenario 2 Holly and Lynn are both aged 68 and retired within the last 5 years. They’re looking to re-mortgage with additional borrowing for home improvements.
👨👩👦 Customer Scenario 3 Holly and Lynn then see the Income Booster proposition and ask their son Nigel to join the mortgage application. Nigel is 30 and looking to retire at the age of 60.