Getting a mortgage in the UK can become more challenging as you get older. Most mainstream lenders place age limits on new mortgage applications and repayment terms. However, it is still possible to secure a mortgage in later life through specialist lenders. This article explains the maximum age limits imposed by different lenders and the options available for older borrowers.
Why Does Age Impact Mortgage Eligibility?
There are two key reasons why age can count against you when applying for a mortgage:
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Decreased income – Once retired regular salary income stops. Lenders worry pension income may be insufficient.
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Health decline – Older borrowers are at greater risk of health issues and less likely to survive the full mortgage term.
These factors increase the risk to lenders, so maximum age caps are imposed to mitigate this.
What is the Maximum Age for Mainstream Mortgages?
While maximum ages vary between lenders here are the typical age limits
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50s – Most lenders happily offer 25-30 year terms. Must show retirement income predictions.
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60s – More limited. Shorter 10-20 year terms likely required. Pension income evidence needed.
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70s – Much harder. Maximum 15 year terms. Building societies more flexible.
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80s – Very few lenders. Specialist niche lenders only.
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90+ – Extremely unlikely. Handful of niche lenders may consider.
What are the Mortgage Options for Older Borrowers?
While high street choices narrow, there are specialist products aimed at older borrowers:
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Retirement Interest-Only (RIO) – For ages 55+. Only pay interest until sale or death.
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Lifetime Mortgages – Type of equity release from age 55. Repaid on death/care.
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Home Reversion Plans – Sell part/all home to provider from age 60.
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Older People’s Shared Ownership – Buy 10-75% share in property from age 55.
An equity release or shared ownership scheme may suit some over 60s. However, professional financial advice is essential before considering these options.
How Can Older Applicants Improve Mortgage Chances?
Here are some tips to boost mortgage eligibility in later life:
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Provide pension income evidence
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Show income from investments/property
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Reduce debts to improve affordability
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Pay off existing mortgages
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Consider downsizing to a cheaper property
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Ask a younger relative to act as a guarantor
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Seek advice from a specialist mortgage broker
While criteria is tighter, those with sufficient income/deposits can still obtain mortgages into retirement. Consulting a broker will help secure the best available deal.
What are the Mortgage Options at Different Ages?
Here is a more detailed overview of mortgage eligibility at different stages:
Over 50s Mortgages
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Most lenders happy to lend into retirement
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Standard 25-30 year terms available
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Must provide predicted retirement income
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Last chance to maximize mortgage flexibility
Over 60s Mortgages
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More limited options than 50s
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Shorter 10-20 year repayment terms likely
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Pension income evidence required
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Equity release now an option
Over 70s Mortgages
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Much harder to obtain than 50s/60s
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Maximum terms of 10-15 years
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Small building societies more flexible
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May need younger guarantor
Over 80s Mortgages
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Very few lenders willing to lend
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Usually specialist niche lenders only
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Limited to short repayment terms
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Equity release easier to obtain
Can I Get a Mortgage if Retired?
Yes, it is possible to get a mortgage after retirement. Options include:
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Retirement Interest-Only (RIO) Mortgages – Specifically designed for retirees.
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Standard Mortgages – If pension/investment income is provable.
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Buy-to-Let – 63% of UK landlords are over 55.
You’ll need to provide solid evidence of retirement income. Downsizing and using property equity can also improve affordability. While criteria is tighter, mortgages in retirement are achievable for many.
Mortgages for over 50s
Many lenders will be happy to offer you a mortgage if you’re over 50, with a standard 25-year term and competitive interest rates often available. In some cases, you may be asked to show evidence of your predicted retirement income.
Make sure you can comfortably afford the mortgage repayments and don’t overstretch yourself – do you want to be (and will you be able to) still be repaying your mortgage in your 70s?
Which mortgage could you get?
Compare a huge range of mortgages of all types on our comparison tables.
Maximum age to get a mortgage – What is the age limit for getting a mortgage?
FAQ
What is the oldest age you can get a mortgage?
Many lenders impose an age cap at 65 – 70, but will allow the mortgage to continue into retirement if affordability is sufficient. Mar 19, 2025.
At what age should you no longer have a mortgage?
How O’Leary Sees It: O’Leary believes that debt, even the so-called “good debt” of a mortgage, is bad for any financial plan. He said that getting out from under your mortgage by age 45 is the best thing you can do for your long-term finances.
Can a 75 year old get a mortgage in the UK?
Yes, you can still find lenders who will give mortgages to people over 65, but the terms may be shorter and the interest rates may be higher.