"The age of retirement also is less rigid than it was and many people reaching this point in their life may continue to work full or part time and are stepping back from their careers in a more gradual way."
Other lending criteria changes include removing maximum tenancy periods for buy-to-let mortgages, and accepting sale of property as a repayment strategy for part and part interest only mortgages.
The Society’s maximum age for buy-to-let mortgage applications remains at 80.
Richard Fearon, Leeds Building Society’s Chief Commercial Officer, commented: “We keep our lending criteria under review as we seek to respond to borrowers’ needs and help more members to have the home they want.
“Life expectancy is increasing and our change to the maximum age on mortgage applications acknowledges this fact.
“The age of retirement also is less rigid than it was and many people reaching this point in their life may continue to work full or part time and are stepping back from their careers in a more gradual way.”
