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How To Get a Mortgage Later in Life

Once you hit the age of 50, you may notice that the types of mortgages on offer, as well as your options, begin to change. It is at this point where careful consideration should come into play, and finding a specialist mortgage provider with a personalised service can benefit you in the long term.

At esbs we treat everyone as an individual, so whether they are looking to get a mortgage at 55 or later, we will do our best to help you do just that!

How old can you be to get a mortgage?

At esbs we cater for people who are looking for mortgages to be repaid by the time they are 85 years old, whether you are retired, employed or self-employed in a non-manual position.

So what is the age limit for a mortgage? Read below for more details on specific ages.

Can I get a mortgage at 50?

If you are looking for a mortgage and you are in your 50s then you will experience the most flexibility in mortgage choices, when we consider all later-life products. Typically, you should be able to apply for the standard 25-year mortgage term.

In your 50s you may also experience a peak in your earnings, you are likely to be an established homeowner, and potentially have a respectable amount for a deposit.

Everything is on your side, but remember, once you pass your 50s mortgage options become a lot tighter so making the right decision at this point in your life, where flexibility is at its greatest, is important.

Can I get a mortgage at 60?

Yes, but one of the key things to keep in mind here is that the length of your mortgage will be more restricted, however you will still be able to capitalise on the 25-year term.

Can you get a mortgage on a pension?

Yes. If you are looking to re-mortgage your property in your 60s, you may need to provide information.  This includes any pension income or investments that show clearly that you can manage the repayments within this shorter time period.

Can I get a mortgage at 70?

This is the stage where many lenders won’t offer a mortgage, but at esbs we pride ourselves on catering to people ages 70 – 80 years old by offering a more personalised service and taking everything into consideration when looking to provide a mortgage to over 70s.

Therefore, if you are aged 50 – 80 years old and are looking for a mortgage, we could help.


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