It's Free to Speak to an Advisor, 7 days, 8am - 10pm
It's Free to Speak to an Advisor, 7 days, 8am - 10pm
Yes, getting a mortgage over 60 is possible, with many lenders offering flexible options that extend well into retirement.
Whether you’re looking to move home, remortgage, or release equity, there are traditional mortgages for over 60s available, some running up to age 90.
Flexible lifetime mortgage solutions are also available for those that do not qualify for a traditional mortgage.
Many people assume that getting a mortgage over the age of 60 is difficult, but lenders are increasingly offering flexible solutions.
There are many reasons why someone over 60 might need a mortgage. You may be looking to move home, repay a mortgage that is ending soon, or release equity to improve your retirement lifestyle.
Some borrowers use mortgages to help family members onto the property ladder, while others want to consolidate debts or fund home improvements.
There are two main options we can explore:
We’ll explore these more and the types of over 60s mortgages available below.
Speak to an Advisor – It’s Free!
Schedule a free callback from one of our experts today.
Our customers rate us 4.9/5
A key concern for many older borrowers is whether they can secure a mortgage that extends into retirement.
The good news is that many high-street lenders now offer standard mortgages for over 60s that run until age 85 or even 90.
As long as you can demonstrate affordability through a pension, investment income, or other assets, you could be eligible for a regular repayment mortgage.
The types of mortgages for over 60s include:
A standard mortgage where you make monthly payments covering both the interest and the capital. This ensures the mortgage is fully repaid by the end of the term.
Many lenders now allow repayment mortgages to run into the borrower’s 80s or even 90s, provided affordability criteria are met.
With this type of mortgage, you only pay the interest each month, keeping monthly repayments lower.
The full mortgage balance is repaid at the end of the term, often using savings, investments, or proceeds from selling the property.
A part & part mortgage is a combination of repayment and interest-only.
Part of the mortgage is repaid gradually, while the rest remains interest-only, reducing monthly costs while still paying off some of the loan over time.
Specifically designed for older borrowers, a retirement interest-only mortgage works like an interest-only mortgage but has no fixed end date.
The loan is repaid when the property is sold, typically when the homeowner moves into long-term care or passes away.
A form of equity release that allows you to unlock tax-free cash from your property without making monthly repayments.
The loan and interest are repaid when the property is sold, usually after the homeowner’s passing or move into care.
Unlike a mortgage, this involves selling a percentage of your home to a provider in exchange for a lump sum or regular payments.
You can continue living in the property rent-free, but the provider owns a share of your home, meaning you won’t benefit from its full value when it is eventually sold.
When looking at mortgages for over 60s, it’s essential to find a lender that understands your situation.
Each mortgage provider has different criteria, and some set strict age limits on borrowing.
Working with a mortgage advisor who specialises in age 60+ mortgages ensures you access the most suitable deals without unnecessary restrictions.
An expert mortgage advisor can also help you understand affordability assessments.
Lenders will consider income sources such as pensions, rental income, and savings, so presenting your financial position correctly can make a big difference.
If you’re still working, your current salary may be considered, but lenders will also look at what happens when you retire.
Specialist advice is particularly valuable if you have a more complex financial situation, such as multiple income sources, existing mortgages, or plans to pass wealth to family members.
Understanding the full range of options available to you means you can secure a mortgage that aligns with your plans while maintaining financial stability.
Finding the right mortgage aged 60+ isn’t always straightforward, which is why working with a specialist team makes all the difference.
Our experienced mortgage advisors understand the unique needs of borrowers over 60 and can guide you towards the best solution.
Many people assume equity release is the only option, but this isn’t always the case.
Traditional mortgage products can often save a significant amount of money in the long run, and we make sure you explore every available route before making a decision.
We offer holistic mortgage advice, ensuring your mortgage works for both your short-term needs and long-term plans.
Family members are always welcome to join in the conversation, so you can make decisions with the full support of your loved ones.
Book a free, no-obligation appointment online today and let’s explore the best mortgage options for you.
Read our Reviews
UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© UK Moneyman Limited 2025.
UK Moneyman Limited is Registered in England, No. 6789312
Registered Address: 9 Gallows Lane, Beverley, United Kingdom HU17 7FJ.
Authorised and Regulated by the Financial Conduct Authority.
We are entered on the Financial Services Register No. 627742 at www.register.fca.org.uk.
© UK Moneyman Limited 2025.
We value your privacy
This website uses cookies. If you continue to use the site, we will assume that you agree with our use of cookies.
