Chorley Building Society has launched new later life and buy-to-let deals.

In its later life range, the lender has added a five-year fixed rate up to 75% LTV at 5.65% with a £999 fee for purchase or remortgage.

Later life products are available when any of the borrowers are 75 or over at the time of application or at the end of the mortgage term.

In its buy-to-let range it has launched a two-year fixed rate up to 70% LTV at 5.85% with a £1,499 fee.

It also has a limited company buy-to-let version with the same rate and fee.

Head of operations Liz Pearson says: “We see more and more people that have a need to borrow later in life, and we want to make sure our mortgages support older borrowers who need to purchase or refinance.

“Feedback from our brokers said later life borrowers were looking for more stability in their interest rates and payments and so we’re responding to these needs by launching these new five-year fixed rate products.”