Brendan Burgess
Founder
- Messages
- 54,419

A mortgage until you’re 80? – new lender MoCo to offer later life loans
New lender MoCo is prepared to issue mortgages that people can pay off until the age of 80.

Its credit policy states: “Max term of up to 35 years. Max terms to applicant age of 80.”
Asked if it was not irresponsible to let people pay a mortgage until the age of 80, long after the official retirement age, a spokesperson for MoCo said: “MoCo’s credit policy provides for a maximum age of 80 at the end of the mortgage term.
“Where a borrower is expected to be in retirement during any part of the mortgage term, an enhanced individual assessment will be carried out, with a prudent approach taken in relation to ongoing income and affordability in retirement, including review of documentation from the borrower’s qualified financial advisor where applicable.”