Husband is 75, and wife is 58. I believe that wife can go on the loan, but we would use wife’s age to determine the principal limit. Is that correct? If so, why don’t the tables go below 62 years?
You are correct that the calculations will be based on the youngest borrower. Since the wife is younger than 62, she will need to be listed as a Non-borrowing spouse. There is a separate table for the NBS.