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Barclays raises upper age cap for buy-to-let borrowers

Barclays has increased its maximum age limit on its buy-to-let mortgage products from 70 to 80 after receiving a growing number of applications from older borrowers.

The lender said research demonstrated people were living longer which meant landlords wanted to keep their properties for a longer period into retirement.

Barclays has identified an increased appetite from applicants over 50 years of age to invest in property which influenced its decision to raise its upper age limit.

A maximum age limit of 70 still applies to its residential mortgage range. In November, the Building Societies Association began a 12-month review into age caps on mortgage lending in the mutual sector. Since then Cambridge and Dudley Building Societies have removed their upper age caps.

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