Mortgages for over 60s
Are you over 60 and thinking about getting a mortgage? You’re not alone — and it’s more achievable than you might think. Speak to a specialist adviser today. It’s free to chat.
Get startedMany people assume that once you reach 60, your chances of getting a mortgage are limited.
In reality, there are a wide range of borrowing options available — but the key is finding a lender that understands later life income and retirement planning.
Whether you’re looking to move home, remortgage, or release equity, the right advice can make all the difference. With access to a broad panel of lenders, it’s often possible to secure a mortgage tailored to your circumstances.
Mortgage Advice for Over 60s
When applying for a mortgage over the age of 60, lenders will typically assess your income differently compared to younger applicants.
If you’re still working, your salary will be considered. If you’re retired, lenders will look at pension income, investments, or other sources of regular income. Because income in later life can vary significantly, not all lenders take the same approach.
Some high street lenders may apply stricter criteria, while specialist lenders are often more flexible and better suited to later life borrowing.This is why speaking to a mortgage adviser is particularly valuable — they can match you with lenders who are more likely to accept your application.
Can You Get a Mortgage Over 60?
Yes, mortgages are available for people over 60. Your success will depend on:
- Your income (including pensions or investments)
- Your credit history
- The term of the mortgage
- The lender’s specific criteria
There are many lenders willing to consider applications from older borrowers, including those who are already retired.
What Mortgage Options Are Available?
There are several types of mortgages available if you’re over 60, depending on your goals.
Standard repayment mortgages
If you want to repay the loan in full over time, many lenders will still offer standard mortgages — even into retirement.
Interest-only mortgages
Some lenders offer interest-only options, where you repay the loan at the end of the term (often using savings or property sale).
Lifetime mortgages
Available to those aged 55+, lifetime mortgages allow you to borrow against your home while retaining ownership. Interest can be added to the loan rather than paid monthly.
Note: Lifetime mortgages will reduce the value of your estate and may affect eligibility for means-tested benefits.
What Is the Age Limit for a Mortgage?
Each lender has their own age limits, but as a general guide:
Maximum age at application: typically 65–80
Maximum age at end of term: typically 70–85
Some specialist lenders may go beyond this, particularly for later life or retirement-focused products.
How to Improve Your Chances of Getting Approved
If you want to maximise your chances of securing a mortgage, focus on the following:
Have a clear repayment plan:
Lenders want to see how you’ll afford repayments now and in the future. This includes pension income and any planned changes.
Understand your affordability:
Review your monthly income and outgoings carefully. Be realistic about what you can comfortably afford.
Strengthen your credit profile:
Pay bills on timeReduce outstanding debt
Check your credit report for errors:
A strong credit profile can significantly improve your options.
How Much Can You Borrow?
Because criteria varies widely, tailored mortgage advice is essential to understand your true borrowing potential. As a general guide, many lenders offer between 3–5 times your annual income, although this varies depending on:
- Your age and mortgage term
- Your income sources (salary, pension, investments)
- Your financial commitments
Why choose Premier Mortgage Services?
Premier Mortgage Services has been helping clients secure mortgages for more than 30 years and has built a strong reputation as a trusted local mortgage adviser.We understand that contractor income can be complex, and we work with lenders who are experienced in assessing contractor applications.
We offer:
✔ Clear, straightforward mortgage advice
✔ Access to lenders who understand contractor income
✔ Support throughout the entire application process
✔ Friendly, jargon-free guidanceOur goal is to make the mortgage process as simple and stress-free as possible.
Ready to get mortgage advice?
Ready to get personalised advice? One of our qualified mortgage brokers will be happy to help.
We can identify the right lender for your situation and help you obtain the necessary documents for your application to be processed and offered. Please contact us here or call us on 0115 9499988.
Think carefully before securing other debts against your home. You may have to pay an early repayment charge to your existing lender if you remortgage.
Arrange a free mortgage consultation
About us
In 2022 we celebrated 30 years of providing first-class whole of market mortgage advice to clients across the UK surpassing £2 billion pounds of client borrowing with the UK's most respected banks, building societies and specialist mortgage lenders.
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Premier Mortgage Services is an Appointed Representative of Stonebridge Mortgage Solutions Ltd which is authorised and regulated by the Financial Conduct Authority.
There may be a fee for arranging your mortgage and the precise amount will depend on your circumstances. Our initial consultations are free, always.
Your home may be repossessed if you do not keep up repayments on your mortgage.