Skipton announces extended age lending for Channel Island residents

Skipton announces extended age lending for Channel Island residents

24th August 2021

The age at which we retire has changed significantly over the last few years, with the traditional ‘women retire at 60, men retire at 65’ being very much a thing of the past.  We’re all living longer, working longer, and dealing with unprecented house prices in the islands at the same time as the standard retirement age creeps ever higher.

With Channel Islanders now working until they are almost 70, and local house prices reaching record highs, it is apparent that something needs to be done to assist the more mature professionals amongst us in getting a mortgage. To help address this issue, Skipton International has extended its mortgage offering to support Channel Island residents up to the age of 75.

To apply for a Skipton Into Retirement mortgage, applicants need to be aged 55 and under, applying for a mortgage on their main residence only, and earning an income and/or receiving a State, private or workplace pension to support the monthly repayments.

Roger Hughes, Skipton’s Business development Manager, said:

“We all know that many people are finding it much harder to get on the property ladder, with many doing so much later than the previous generation.

“For those that do manage to become homeowners, reports show that they will be enjoying a significant financial safety net compared to long-term renters. If anyone would like to find out more, they can visit the Into Retirement page on our website.