Newbury Building Society has launched a retirement interest-only (RIO) mortgage.
Applicants must be a minimum of 60 years old to be eligible.
There is no maximum age, but borrowers must be retired and in receipt of their pension.
The building society recently increased the upper-age limit for its mortgage lending to 90 years old.
Roger Knight, lending manager at Newbury Building Society, said: “People are living for longer and, therefore, as a lender, it is our responsibility to ensure we are offering the right products at the right time.
“We hope our RIO five-year discount variable mortgage product ticks all the correct boxes and enables borrowers to fulfil their retirement ambition.”
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