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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 resident 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 03300 164386.

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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 quality for a mortgage for over 50s?

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

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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A Valued Customer
Beth was great, really understanding and considerate of our situation and supportive of finding a good solution for us.
Posted 19 Apr 2025
Ryan Mcauley
Karen Westoby did a good job, clear in all communication. Found a good mortgage deal & term.
Posted 19 Apr 2025
A Valued Customer
Peter and Stuart were really helpful. We were able to complete the whole process in a short time.
Posted 19 Apr 2025
Christopher Beasley - Halifax
Alistair was very easy to work with and answered all of my questions.
Posted 19 Apr 2025
Alex KJ - Sussex
I approached the MAB after having a very disappointing experience with another popular online mortgage broker. We have a complex set of circumstances where a large chunk of our earnings come from benefits. The other broker gave us a maximum mortgage of £110,000 and we were really crestfallen that our move wouldn't happen. I took a chance on MAB and emailed them a brief description of my circumstances so that whoever I spoke to knew a bit about us already, so there wouldn't be any surprises. I was booked in very quickly with the fantastic Josh Hayselden​ who very quickly reassured me that our circumstances were manageable and that there are lenders who would provide us with a mortgage. Josh gave me some figures that were significantly higher than what I was provided before and I left the phone call feeling sooooo much better about everything. Josh remained in contact continuously and even emailed the day after to say a lender had been in the office and they had discussed our circumstances and that they didn't think it would be an issue. Even when there was a small hiccup between what I expected the mortgage to cost and the actual figure, Josh was able to go back and find an even better deal the very next day. Josh was also very flexible with his hours and we even had phone calls at 7:30PM in the evening. The MAB also allow you to contact them direct on WhatsApp or via email. We also had a case manager, Joanne McGregor who kept on top of things and made sure everything continued to go smoothly. A final shout out to Kieron Ferris who was able to sort out our life insurance and explain options that I didn't even know existed. The last time I used a broker for life insurance we got a really bad deal so I was a bit reluctant but he was excellent, kind and we had a good chat and I ended up with what I think, for the value of the mortgage and our circumstances is a good deal. Don't be put off by the fact that the initial part of this process is free. This doesn't mean they aren't good. Their cost, for what they provide is really reasonable. They are excellent and they should feel proud that they have helped our two children, who have significant disabilities and challenges find a forever home that better suits their needs.
Posted 18 Apr 2025
A Valued Customer
Posted 18 Apr 2025
A Valued Customer
Excellent, Friendly Service. Went the extra mile in continuing to search for the right product for me.
Posted 18 Apr 2025
A Valued Customer
I recently had the pleasure of working with Craig for mortgage advice, and I am delighted to share my positive experience. Craig's expertise and professionalism were evident throughout the entire process, which led to me obtaining the necessary funds. Despite the lengthy and complex nature of the mortgage application process, Craig consistently maintained a high level of professionalism. He ensured that I was kept informed at every juncture, providing timely updates and clear explanations. I am grateful for Craig's support and guidance, and I highly recommend his services to anyone seeking mortgage advice.
Posted 18 Apr 2025
Monika Devi
We had a great experience working with Sandeep as our mortgage advisor. He was incredibly patient, always available to answer our questions, and provided clear, timely responses throughout the entire process. Sandeep guided us every step of the way until we secured the best offer possible. I highly recommend Sandeep to anyone looking for efficient, calm, and knowledgeable mortgage advice.
Posted 18 Apr 2025
Amarjeet - Leicester
As a first-time homebuyer, I was nervous and unsure about what to expect throughout the mortgage process—but working with Geeta completely changed that. From our very first conversation, she made me feel supported, informed, and confident in every decision I was making. Geeta took the time to break everything down in simple terms, patiently answering all of my questions and making sure I truly understood each step. She was incredibly organised, responsive, and proactive in securing the best possible rate and mortgage product for my needs. What really stood out to me was how much she genuinely cared. This wasn’t just a transaction—Geeta was invested in helping me succeed, and her calm, knowledgeable presence made all the difference. She made what could have been a stressful experience feel smooth and even enjoyable. I’m beyond grateful for her guidance and expertise. If you're a first-time buyer feeling overwhelmed, trust me—Geeta is the person you want by your side. I can’t recommend her highly enough!
Posted 18 Apr 2025

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