{"id":158145,"date":"2019-01-02T13:50:11","date_gmt":"2019-01-02T13:50:11","guid":{"rendered":"https:\/\/www.finder.com\/uk\/?p=158145"},"modified":"2026-02-18T08:53:20","modified_gmt":"2026-02-18T08:53:20","slug":"mortgages-over-50s","status":"publish","type":"post","link":"https:\/\/www.finder.com\/uk\/mortgages\/mortgages-over-50s","title":{"rendered":"Mortgages for the over-50s"},"content":{"rendered":"

It has traditionally been more difficult for people aged over 50 to be approved for a mortgage. Thankfully, that\u2019s changing.<\/span><\/p>

Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.<\/div><\/article>

Is there a maximum mortgage age limit?<\/h3>

No. There is technically no maximum age limit for when a UK resident can apply for a mortgage. In fact, The Equality Act of 2010 ensures that lenders don\u2019t discriminate against borrowers because of their age.<\/p>

Based on that law alone, you could theoretically get a mortgage regardless of whether you\u2019re 18 or 80. Of course, things are a little different in reality. Lenders also have a responsibility to ensure that they only approve mortgages to applicants who can afford the repayments without experiencing financial hardship, so older applicants will find it much more difficult to obtain mortgage approvals than their younger counterparts.<\/p>

For example, if you\u2019re 50 years old and you apply for a mortgage with a 25-year loan term, the lender might be sceptical about your ability to repay the loan for the next 25 years.<\/p>

In light of the 2008 financial crisis, more-judicious lending by banks and mortgage providers since then has led to some age restrictions on specific mortgage products. With this in mind, it\u2019s worth checking with your mortgage broker to find out which lenders offer mortgages suitable for your needs.<\/p><\/div><\/div><\/div><\/div>

What do I need to do to take out a mortgage if I\u2019m over 50?<\/h3>

If you\u2019re over 50 and applying for a mortgage, you\u2019ll need to provide a greater amount of information regarding your current and future financial position than younger borrowers. If you\u2019re already retired, or about to retire, the less likely you are to be able to fully repay the money you borrow.<\/p>

To minimise the level of risk and also satisfy responsible lending obligations, a lender will ask you to supply detailed information about your employment and the income you earn from all sources, including any pensions you receive. The usual information about credit history and any other outstanding debts and your ongoing expenses is required as well.<\/p><\/div><\/div><\/div><\/div>

What types of mortgage might be available to the over-50s?<\/h3>

If you\u2019re over 50, you\u2019re eligible for all types of mortgages available on the market, such as fixed rate, variable, interest-only or offset account mortgages, provided you can provide sufficient evidence that you\u2019ll be able to repay the mortgage. Some lenders even have specialist mortgages for older borrowers that can make it easier to get a mortgage.<\/p><\/div><\/div><\/div><\/div>

How should I start my search?<\/h4>

The best way to start searching for an over 50s mortgage is to find out which banks and building societies are most likely to offer a mortgage to older borrowers. These are likely to be smaller banks or building societies, some of which may offer products specifically targeted at an older age range. You can do this by either speaking to a mortgage broker or browsing online. Once you\u2019ve worked out what mortgages are available to you, you should compare them to ensure you get the best deal.<\/p>

How to compare mortgages<\/h4>