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Can You Get a Mortgage in Your 90s?

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At 90 and beyond, you may be exploring ways to manage your home and finances.

Whether you’re considering moving to a smaller place, staying close to loved ones, or unlocking some value from your property, mortgage options are still available.

Lenders offer products designed for older borrowers, helping them stay financially comfortable and secure.

Why Would You Consider a Mortgage in Your 90s?

As you get older, your financial needs may shift. You might want to downsize for easier living, access extra money for care, or help your family with their expenses.

Mortgages can offer the flexibility to do these things while allowing you to stay in control of your financial future. They can also give you access to the value of your home without having to sell it.

Using Your Home’s Value Without Moving

One of the main reasons people in their 90s look into mortgages is to access the value built up in their homes.

If your home has increased in value over the years, you can use that equity without having to move.

Equity release is a popular option for this, as it allows you to unlock funds while continuing to live in your home.

How Does Equity Release Work?

Equity release lets you borrow against your home’s value, with repayment usually happening when the home is sold after you’ve passed away or moved into care.

The money can come as a lump sum or in smaller amounts, giving you financial flexibility while staying in the home you love.

Keeping Payments Small with Interest-Only Mortgages

If you need a mortgage but want to keep monthly payments low, an interest-only mortgage might suit you.

With this type of mortgage, you only pay the interest each month, which means lower payments compared to a standard mortgage. The full loan is repaid when the home is sold.

What Are Retirement Interest-Only Mortgages?

Retirement Interest-Only (RIO) mortgages work similarly but are specifically designed for older borrowers.

You make smaller monthly payments that only cover the interest, and the loan is repaid when the home is sold. This can help keep living costs manageable without having to make large monthly payments.

Thinking About Downsizing?

Your home might feel too big or difficult to manage, and moving to a smaller property could make life easier.

A mortgage can help cover the cost of buying a new home if you’re downsizing, or give you extra funds if your savings don’t stretch far enough.

It’s a good option if you’re ready to move but don’t have the full amount to buy your next property outright.

What Lenders Look for When You’re Over 90

Lenders will check a few things when you apply for a mortgage in your 90s.

While age is a factor, they’re more focused on your financial situation, how stable your income is and whether you can manage the payments. They’ll look at things like pensions, savings, and the overall condition of your home.

Even if you’re in your 90s, having a clear repayment plan and stable income can make your application more likely to be approved.

Talking to Your Family About Mortgages

Taking out a mortgage later in life may affect your family’s inheritance plans, especially if you’re using products like equity release.

It’s a good idea to talk to your family about your plans so there are no surprises later on. If you’re thinking about care needs, some mortgages can help cover those costs as well, giving you more choices for your future.

Why a Mortgage Advisor Can Help

Getting the right mortgage in your 90s can be tricky, but a mortgage advisor who specialises in later-life lending can guide you through the process.

They’ll help you understand what products are available and which one best suits your situation. From sorting out the paperwork to dealing with lenders, an advisor can make everything simpler and less stressful.

Enjoying Life With the Right Mortgage

Mortgages in your 90s can give you the financial freedom to enjoy your later years.

Whether you want to release money from your home, downsize, or keep monthly costs low, there are options designed for older borrowers.

With the right advice, you can make a decision that fits your lifestyle and helps you enjoy your home for many more years to come.


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Author Image of Amy Davidson - Director of UK Moneyman Ltd.

About the Author

Amy Davidson

Director of UK Moneyman Ltd.

Since finishing a BA (Hons) Financial Services degree in Nottingham, Amy has worked in all aspects of financial services including banking, financial advice, and now mortgages. Amy co-founded UK Moneyman with Malcolm back in 2009 with a view to provide truly independent mortgage advice.

Utilising her financial services experience, Amy has a passion for content writing and works closely with the UK Moneyman team to educate customers searching online in all areas of mortgages. Alongside the content writing, Amy works with our customer care team taking incoming enquiries.

Outside of work, Amy enjoys family holidays, keeping fit, and catching up with friends.

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