Family Building Society’s Flexible Later Life Mortgages: Lending Criteria & Product Updates for 2025

Introduction: Expanding Mortgage Options for Borrowers in Retirement

Family Building Society, renowned for its flexible and human-centred approach, has introduced a set of updates and clarifications to its later life lending products for 2025.

These updates present valuable opportunities for UK homeowners, especially older borrowers, looking for mortgages in retirement, those with complex income, or individuals needing bespoke solutions.

If you have been finding it challenging to secure a mortgage due to age or unconventional income sources, these updates provide welcome news.

New Lending Criteria: Income and Age Flexibility

Family Building Society stands out for its tailored, case-by-case underwriting and generous lending criteria:

• Earned Income Considered Up to Age 70 (Manual Roles) or 75 (Non-Manual Roles): Borrowers can now use employment income well into later life.
• Wide Range of Acceptable Income Sources:
  • Up to 90% of income from investments or pension pots (averaged over the mortgage term)
  • State and private pensions
  • Rental property income
  • Income from stocks and shares ISAs
  • Remuneration for limited company directors (when not actively managing day-to-day operations)
• Industry-Leading Maximum Age Limits:
  • Owner Occupier Repayment Mortgages: up to 95 at the end of term
  • Owner Occupier Interest-Only and Buy-to-Let Mortgages: loans available if under 89 at start of term

Manual Underwriting: Personal Service, Not Automated Decisions

Unlike many UK mortgage lenders, Family Building Society takes a common sense, manual underwriting approach. Every application is reviewed by a real person, allowing for flexibility and solutions that fit complex scenarios—especially valuable for borrowers who may have been declined elsewhere due to rigid, automated lending rules.

Special Features & Promotions for 2025

• Borrowing into Retirement: Access mortgages even if you’ve already retired, or are approaching retirement, with higher-than-average maximum ages.
• Support for Diverse Income Profiles: Useful for older applicants with blended sources of income, including investments and pensions.
• Bespoke Solutions: Each application is uniquely assessed, making this lender ideal if you have complex finances or uncommon requirements.

Who Benefits Most?

• Retirees and Older Borrowers: Those over 55, up to their 90s, seeking either new mortgages or remortgages.
• Applicants with Non-Standard Income: Anyone whose retirement income includes investments, rental, or non-traditional sources.
• Landlords and Investors: Buy-to-let landlords seeking to leverage later-life lending opportunities.
• People Refused Elsewhere: Borrowers who failed automated credit checks or had difficulties with mainstream lenders.

Why Choose Family Building Society?

• Flexible Lending Criteria: Industry-leading approach to later life lending and diverse income sources.
• Case-by-Case Underwriting: Personal assessment for those with complex financial circumstances.
• High Maximum Age Limits: Access mortgages later than most lenders allow.
• Expert Support: A team of regional business development managers and education resources for both brokers and direct applicants.

Conclusion: Take the Next Steps with Expert Advice

If you’re considering a mortgage or remortgage in later life, have a mix of pension and investment incomes, or have faced barriers with other lenders, Family Building Society’s updated criteria and commitment to manual underwriting may unlock the right solution for you. For expert guidance, or to discuss your personal circumstances, contact our mortgage advice team today for a tailored recommendation and access to the latest best-buy deals.

Frequently Asked Questions (FAQ)

• Who qualifies for a later life mortgage with Family Building Society?
  Most UK residents over age 55, including retirees and those with complex income sources, can qualify with appropriate income evidence.
• Can I use investment or pension income to qualify?
  Yes, up to 90% of eligible investments or pension pots and all regular pension/rental income can be used, subject to affordability checks.
• Up to what age can I have a mortgage with Family Building Society?
  For owner-occupier repayment loans, the term can finish at age 95; for buy-to-let or interest-only, up to age 89 at loan start.
• How are applications assessed?
  Each application is considered individually with manual underwriting, allowing flexibility for unique financial situations.
• How do I find out if I’m eligible?
  Contact our qualified mortgage advisers for a free eligibility review and personalised advice.