Pepper Money has increased the maximum age it will accept earned income to and the maximum age at end of term on its second charge mortgages.

Borrowers can schedule their repayments over terms which exceed the state retirement age where they can evidence their income is sustainable.

The lender now accepts earned income to 75 years of age and a maximum age at the end of term of 80 across its second charge products.

Pepper Money second charge sales director Ryan McGrath says: “We recognise that a growing number of customers are likely to be working to an older age. By increasing the age we’ll accept earned income we’re enabling customers to schedule their loan repayments over a term that suits their circumstances.”

“Furthermore, increasing our maximum age at the end of term will enable more customers with retirement income to satisfy their borrowing needs.”