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We're the experts in mortgages for over 50s

If you're aged 50 and over, a mortgage with us could enable you to repay your existing mortgage, help your family financially, or access the equity tied up in your home without the need to sell or move. 

Mortgages for over 50s residential mortgage icon showing a house with two coins

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.  

Find out more

Mortgages for over 50s retirement interest-only mortgage icon showing a house with a coin containing a percentage sign.

Retirement interest-only mortgages (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 and into long-term care. 

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Mortgages for over 50s lifetime mortgage icon containing a house with a clock next to it.

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 and into long-term care.  

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Things to consider with mortgages for over 50s

Before your 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 mortgage for over 50s can make it more expensive. 

Mortgage Advice Bureau charges a fee of up to £995 for later life mortgage advice.  

Want to learn more? Discover our mortgages for over 50s guide

If you're nearing retirement, or are already enjoying it, our mortgages for over 50s guide is designed to answer all your questions and provide clarity on what mortgage options are available to you in later life. 

Mortgages for over 50s guide image showing the page for getting to know your options and starting your mortgage journey.

Ready for a chat? Book a callback

Fill in the form and one of our specialist advisers for mortgages for over 50s will contact you to expertly answer any questions you may have. 

You can also call us directly on 01226 720 047

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Frequently asked questions

What is a mortgage for over 50s?

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.

Do I need to be retired to qualify for an over 50's mortgage?

No, but you must meet the minimum age requirement for the mortgage type. Other requirements will differ between mortgages.

Can I use a mortgage for over 50s to help my child buy a house?

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.

What are the costs associated with mortgages for over 50s?

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.

Can I use a mortgage for over 50s for home improvements?

Yes! Many homeowners use an over 50s mortgages to renovate their homes, adapt for mobility, or make necessary repairs.

What is a lifetime mortgage?

A lifetime mortgage allows homeowners aged 55+ to access the equity in their property without selling it. You can release funds as a lump sum or regular payments. The loan is typically repaid upon death or moving into long-term care.

Latest articles

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What's the difference between a RIO and a lifetime mortgage

Not sure which retirement mortgage is best suited for you? Let’s compare two popular options - a lifetime mortgage and a retirement interest-only mortgage.

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Is a lifetime mortgage a good idea?

Let’s talk about whether a lifetime mortgage is a good idea for you, and what you need to know about the benefits and risks.

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How to improve your chances of getting a mortgage in later life

From standard mortgages to retirement interest-only loans, here’s everything you need to know to improve your chances of getting a mortgage when you’re over the age of 50.

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31656
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Dawn Jenkins
I have been very impressed by the 1st Class professional service that I've recieved from MAB Ltd. I can't thank Zoe enough for her tenacity in supporting me to eventually own outright 100 % ownership, from Shared ownership after 20 years with a Housing Association. Zoe has supported me for over 15 years, from being a 50% Shared Ownership, to Staircasing, right up to outright 100% ownership. Zoe stood by me all the way, through thick and thin, and never gave up on me being able to own my own property outright. I can't thank Zoe enough for her tenacity in going over and above, working night and day, in order to secure the best mortgage deal for me. I would highly recommend MAB Ltd as being without doubt the best mortgage company who will work tirelessly to get the best mortgage deal for their clients. I can't thank Zoe enough for everything that she's done for me, by ensuring that my future is more secure as a homeowner, without the stress of paying part rent, and mortgage, which has given me financial security. It's a dream come true!
Posted 09 Oct 2025
Obeng Agyemang - GBR
Excellent customer service from start to end., goes out his way to help, very knowledgeable and professional. speaks in a way that makes a difficult subject so easy.
Posted 09 Oct 2025
A Valued Customer
From start to finish, our advisor Donna has been incredibly helpful, professional, and patient. She took the time to explain every step of the process clearly, answered all our questions, and made what could have been a stressful experience feel simple and straightforward. So, thank you!
Posted 09 Oct 2025
A Valued Customer
Posted 09 Oct 2025
Michelle Wilkinson
Claire Twyman!! Highly recommend. From the minute I walked in the advise and support has been there and going over and beyond!! Been honest From the start asked me what my end game was and she advised and it happened!! Absolutely put my trust in claire and she delivered on everything, Amazing 👏
Posted 09 Oct 2025
A Valued Customer
I had the pleasure of having Joanne Boulden and Mohammed Shoaib advising me with my remortgage. It was the easiest process with their help and they were professional and so helpful throughout. I genuinely couldn’t have done it without them, they were so attentive and such a huge help, couldn’t have asked for better advisors! Thank you both!
Posted 09 Oct 2025
A Valued Customer
Posted 09 Oct 2025
Kevin Jones
Laura was extremely helpful and clearly very knowledgeable. She took us through every step of the way and explained everything clearly.
Posted 09 Oct 2025
Adedoyin Olaegbe - GBR
I am so blessed to have known Sarah Eills she is one of a kind. 2023 she handled our mortgage,after the first two years just like yesterday she also moved us into the next years with are awesome advice which landed us a great deal. From day one till two years after she is always checking on us and happy to answer our question and also help in every way she can. Sarah you are an excellent person, highly professional and knowledgeable. I will pick you any day anytime and you have got my family and friends. Thank you for all you do and for keeping the roof over our head.
Posted 09 Oct 2025
Mohsin Hussain - GBR
Very good service very quick always listening always there to help and explain where you don’t understand. Many emphasise on the timescale on how quick they work and efficiency and communication with you. Especially the two gentlemen, Richard and Steve Cosgrove very good service
Posted 09 Oct 2025

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