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Can I Get a Mortgage Over 70?

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Yes, you can get a mortgage over the age of 70. While there is no maximum legal age for mortgage terms, lending criteria can vary between providers.

Regardless of your age—whether you’re in your 50s, 60s, 70s or beyond—there is a broad range of purchase and remortgage deals that extend past the age of 70. At this stage in life, you have a wider array of mortgage products available, including retirement interest-only mortgages and lifetime mortgages, in addition to traditional options.

The most suitable type of mortgage for your situation will depend on several factors, summarized below. 

Income 

Your income source and amount, whether from full or part-time work, pensions, or investments, will influence the type of mortgage that best suits your needs. 

Deposit / Equity 

A larger deposit will increase your borrowing capacity in retirement. 

Lending decisions for all customers, including those over 70, are based on risk. Lower loan-to-value ratios reduce the lender’s risk, potentially securing you a better interest rate. 

Looking For a Mortgage Over 70?

Our mortgage advisors can work out how much you are able to borrow and what products you qualify for.

Joint or Sole Name Application 

Both joint and sole name mortgages are available for those over 70. 

Considering life insurance for over 60s during the mortgage application process is also advisable. Life insurance can offer peace of mind, ensuring that the mortgage is covered if something happens to one of the applicants. Even partial coverage can provide crucial financial relief. 

Credit Score 

Obtaining a mortgage with poor credit can be challenging but is usually possible. 

Are you looking at getting a mortgage over 70? 

Whether you’re looking to purchase a new home or release equity, numerous mortgage options are available beyond the age of 70. Many customers are surprised by the range of options available in later life. Mortgages can also enable you to afford a more expensive property than if you were buying with cash.

It’s always best to seek independent mortgage advice to explore all your options fully. Your plans and objectives for the property should be central to these discussions. 


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Author Image of Dan Osman - Head of Later Life at UK Moneyman Ltd.

About the Author

Dan Osman

Head of Later Life at UK Moneyman Ltd.

Dan joined the Financial Services sector back in 2002, but actually left the industry in 2008 before returning some years later. During the in-between years, he took a degree to become a Social Worker specialising in working with vulnerable adults.

Upon his return, Dan combined his experiences in the two sectors to become an Equity Release Specialist and he now heads up UK Moneyman’s Later Life Lending proposition. He genuinely believes in a holistic approach and always ensures his clients receive a proper consideration of all the options available, including non-lending alternatives to Equity Release.

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Registered Address: 10 Consort Court, Hull, HU9 1PU.

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