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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.  

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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

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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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30436
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Average Rating
Vishal Majithia
I've used Tony Rimmer from MAB for the best part of a decade for property purchases and Protection policies for me and my family. Would never go anywhere else great service and great knowledge
Posted 13 Jun 2025
Benjamin Haynes - TF5 0bx
Dan Reed has been extremely helpful and patient with us. Dealing with our many queries in a professional and understanding manner. As first time buyers there is a lot to take on board and consider. Dan and the team have gone above and beyond so far. Looking forward to moving into our new house soon
Posted 12 Jun 2025
Emma Crayton
Posted 12 Jun 2025
A Valued Customer
Both Luke and Helena were fantastic. Kept me fully informed on progress of my mortgage and life insurance applications, and I feel made sure I got the best possible deal.
Posted 12 Jun 2025
Christopher Reynolds
Excellent
Posted 12 Jun 2025
Lindsay Broadfoot
Provided us with a speedy and very efficient service when we were looking for a mortgage for our new build property. Very happy with the courteous and thoughtful service.
Posted 12 Jun 2025
Neil Henson - Nottingham
Great communication all the way through the process. Explained everything thoroughly. Very patient and very friendly, especially Josh and Joanne. Nothing too much trouble.
Posted 12 Jun 2025
A Valued Customer
Fiona Dodds was quick and efficient. Gave me all the advice I needed. Easy to contact. Perfect, thank you
Posted 12 Jun 2025
A Valued Customer
Used MAB twice now both times have been great informative helpful and work very efficiently, Adam and Jenny have both been fantastic throughout
Posted 12 Jun 2025
A Valued Customer
The service I received was excellent. I was really pleased with how we were looked after by Simon Thank you.
Posted 12 Jun 2025

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