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Later life mortgages and loans for older borrowers.

Later-life lending, with common sense as standard.
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Everyone's life is different

And that doesn’t change past a certain age.

These days, we don’t all retire when we’re supposed to – if we retire at all – and we don’t all see out our twilight years in the same home we’ve lived in for decades.

So if you’re moving, renovating, or simply want to leverage the equity in your home to borrow again – perhaps to splash out on a special purchase, or help your children onto the property ladder – talk to us.

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Designed for today

Our secured loans and mortgages are made with modern older borrowers in mind.

We recognise that many older Brits have made sound financial plans for their retirement. So we’ll take up to 100% of any pension income into account, as well as investments or rental income, and any wages you have from part-time jobs to keep you busy. Even if you have a zero-hours contract.

Other lenders’ red flags are our green lights

So we can often lend when others won’t. Including when:

  • You already own your home outright.
  • You only want to borrow a small amount.
  • It’s a high-rise flat.
  • It’s an ex-council property.
  • You have less-than-perfect credit history.

Mortgage Repayment Calculator

Do you want to quickly understand the potential cost of your mortgage?

We can give you an idea of the monthly costs with just a few details like the property value, your deposit amount and how long you need the loan to last.

Calculate costs

Common questions about later life mortgages and loans

What is a later life mortgage?

A later life mortgage is simply a loan which will cover the borrower into or in their retirement period.

These mortgages can be taken out by anyone nearing or already in their retirement years, and we will take into account 100% of any pension income. When using 100% of the pension we would have to deduct usual expenditure first and the buffers in the calculation. In addition to pension income, we will take into account investments or rental income, and any wages you have from part-time employment when looking at your affordability. We can only use income for any type of employment up to the age of 70.

How does a later life mortgage work?

Our later life mortgages work in the exact same way as our other mortgages. It’s worth noting that for these mortgages, you can be up to 85 years-old at the end of your term.

Can I get a mortgage if I'm retired?

Yes, we offer later life mortgages up to the age of 85. We’ll consider a wide range of incomes (including your pension) when it comes to assessing affordability.

Can my mortgage term go into my retirement?

It’s perfectly possible for your mortgage term to go into your retirement age. If you’re 10 years or more from your agreed retirement age or aged 56 or over at application, you will need to confirm you understand that the loan extends past you retirement age and explain how you plan to repay the loan once you’ve retired.

If you’re planning to use your pension income to do this, then you’ll be asked to show that this will cover your repayments by providing pay slips showing you’ve paid into your pension or the current year’s pension statement.

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Your home may be repossessed if you do not keep up repayments on your mortgage. All mortgages are subject to our terms and conditions.

Your home may be repossessed if you do not keep up repayments on your mortgage.

You are likely to repay more overall if you select a longer-term mortgage to reduce your monthly payments.
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