Average Customer Rating 4.9 / 5
Independent feedback based on 28522 verified reviews.

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 (ROI)

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. 

Find out more

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.  

Find out more

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.

Request a call

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.
Read more

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.
Read more

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.
Read more
28522
Total reviews
Excellent
4.9
Average Rating
A Valued Customer
We were recommended to Carla Peel at the Mortgage Advice Bureau by a close friend, and we’re so thankful for that recommendation! We had been in an IVA a few years ago, and there was a default on my credit file. Our circumstances weren’t ideal, but Carla’s expertise and dedication gave us hope. We had an appointment to meet Carla and after going through our income and expenditure, Carla worked tirelessly to find us a mortgage solution. Thanks to her hard work and professionalism, we were able to secure a mortgage, something we didn’t think would be possible. We’ll be forever grateful to Carla for making what seemed like an impossible situation a reality. Her support made all the difference, and we highly recommend her services to anyone who may be in a similar situation.
Posted 30 Nov 2024
William Barbour - Aberdeen
Bob Bowman have many years of experience and deals with everything financial for my wife and Myself. !st class Advisor.
Posted 30 Nov 2024
Lewis Woodier
Mike was amazing he gave us so much advice he was patient and professional i couldn't recommend any higher if I tried, thank you so much!!
Posted 30 Nov 2024
A Valued Customer
Posted 30 Nov 2024
Brooke - Kent
Jake was so prompt throughout the whole process, keeping us up to date and moving things forward as quickly as possible. Jake explained things really clearly and made the whole experience a lot less stressful. We will definitely be using Jake again and recommending him to family and friends.
Posted 30 Nov 2024
A Valued Customer
Very prompt . Friendly . Helping and professional service . Made us very comfortable with all our enquiries with proper and professionally. All handled by Jade Reynolds ..
Posted 30 Nov 2024
A Valued Customer
The service was top notch. The guys are very patient and they are very helpful, they make you understand the everything by taking you step by step.
Posted 30 Nov 2024
Richmond Ugwa - Leeds
The journey with the organization was seamless and every hassles were taken care of. So recommend them to anyone looking to climb the property ladder.
Posted 30 Nov 2024
Mark Callaghan
Posted 30 Nov 2024
A Valued Customer
Posted 30 Nov 2024

Ready to speak to an adviser?