We’re specialists in mortgages for over 50s
If you’re aged 50 or over, we can help you explore mortgage options that fit your needs. Whether you want to repay an existing mortgage, support your family financially, or access the equity in your home without needing to sell or move, our tailored advice ensures you can make confident decisions for your future
Residential Mortgage
If you have a steady income to support your repayments, you could qualify for a standard residential mortgage.
You’ll have the flexibility to choose between two repayment options:
- Capital Repayment:
- Interest-Only Repayment
Retirement Interest-Only Mortgages (RIO)
A Retirement Interest-Only (RIO) mortgage is a loan secured against your home. You’ll pay off the interest monthly, but the loan itself is typically repaid when you pass away or move into long-term care. This option can help you manage finances while staying in your home.
Lifetime Mortgage
A lifetime mortgage is a loan secured against your home, offering flexibility with no requirement for monthly payments—unless you choose to make them.
The loan amount, plus any accrued interest, is usually repaid when you pass away or move into long-term care. This option allows you to access the equity in your home while staying in it.
Want to Learn More?
Explore our Mortgages for Over 50s Guide—perfect for those approaching or enjoying retirement. It’s packed with answers to your questions and clear advice on the mortgage options available to you in later life.
Ready for a Chat? Book a Callback
Fill out our quick form, and one of our specialist advisers for mortgages for over 50s will get in touch to answer your questions.
Prefer to call? Reach us directly on 01905 419914. We’re here to help!
Getting a mortgage in later life can feel challenging, but it doesn’t have to be. We offer a range of tailored options for homeowners aged 50 and over, making it easier to access the equity in your home (or multiple properties) without needing to sell or downsize.
No, you don’t need to be retired, but you must meet the minimum age requirement for the specific mortgage type. Other eligibility criteria will vary depending on the lender and mortgage product.
Yes, you can release equity from your property to help your child purchase a home or reduce the size of their mortgage. It’s a practical way to provide financial support while maintaining your own living arrangements.
What Are the Costs Associated with Mortgages for Over 50s?
Costs may include:
- Broker Fee: For expert advice.
- Lender Arrangement Fee: Charged by the lender.
- Legal Fees: For the conveyancing process.
- Valuation Fees: For assessing your property.
Some lenders offer no upfront fees, while others may require them. We’ll help you understand the costs involved.
Absolutely! Many homeowners use mortgages for over 50s to fund renovations, adapt their homes for mobility needs, or carry out essential repairs. It’s a great way to invest in your property while maintaining your lifestyle.
A lifetime mortgage is a type of equity release for homeowners aged 55 and over. It allows you to access the equity in your property without selling it, with funds available as a lump sum or in regular payments. The loan is repaid when you pass away or move into long-term care.
Important Information
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means-tested benefits.
Clearing an existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
We charge a fee for later life mortgage advice. The fee is up to £995.