We're the experts in over 50s mortgages
If you’re aged 50 and over, a mortgage with us can let you access the equity tied up in your home without the need to sell or move.
Whether you'd like to repay your existing mortgage, help your family financially, or free up some cash to improve your life, we’re here to help.
Standard residential mortgage
If you have a steady income that can cover the repayments, you might be eligible for a standard residential mortgage.
You can choose between two repayment options: capital repayments or interest-only repayments.
Retirement interest-only mortgage (RIO)
A retirement interest-only (RIO) mortgage is a loan secured against your home.
You have to pay the interest off monthly, but the full amount of the loan isn't usually repaid until you pass away or move out of the home into long-term care.
Lifetime mortgage
A lifetime mortgage is a loan secured against your home. There’s no need to make monthly payments, unless you choose to. The amount borrowed and the added interest typically aren't repaid until you pass away or move out of the home into long-term care.
Things to consider
Before you take a loan against your property, be sure to weigh up your options. A lifetime mortgage can reduce the value of your estate, and may affect your entitlement to means-tested benefits. Keep in mind that paying off an existing mortgage using a lifetime mortgage can make it more expensive.
Mortgage Advice Bureau charges a fee of up to £995 for later life mortgage advice.
Want to learn more?
Download our later life guide
If you're nearing retirement or already enjoying it, our guide is designed to answer all your questions and provide clarity on the mortgage options tailored to your golden years.
Ready for a chat?
Book a callback
Fill in the form and one of our specialist advisers will contact you to expertly answer any questions you may have.
You can also call us directly on 03300 164386
Frequently asked questions
Getting a mortgage in later life can be tricky. Luckily, as detailed above, we offer a range of mortgages designed for homeowners aged 50 and over. These mortgages allow you to access the equity in your home (or multiple homes) without the need to sell or downsize.
Potential costs may include a broker (advice) fee, a lender arrangement fee, legal fees, and valuation fees. Some lenders offer no upfront fees, while others do.
Yes! Many homeowners use an over 50s mortgages to renovate their homes, adapt for mobility, or make necessary repairs.
No, but you must meet the minimum age requirement for the mortgage type. Other requirements will differ between mortgages.
Yes, you can use a mortgage to release equity from your property to support your child buy a house or reduce the size of their mortgage.
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