Salt's Approach to Loans into Retirement

• Loans into retirement will be assessed on the ways in which the applicant(s) intend to pay the monthly mortgage payments on retiring.

• We accept a ‘normal’ retirement age of 65 (unless advised otherwise) as being a plausible age to work until, however, consideration will be given to the nature of employment in assessing whether it is plausible for applicant(s) to work to or beyond this age.

• A distinction will be made between buy to let (investment) and residential applications. LIR is not considered an issue on buy to let mortgages due to their self-financing nature, unless the buy to let is regulated when the agreed LIR process needs to be adopted.