Many banks and building societies offer standard mortgages to over 65s for moving home or remortgaging. Terms may be shorter (10–15 years), meaning higher repayments, so you’ll need to prove you can afford them. Most are repayment mortgages, clearing the loan by the end of the term. Some lenders offer interest-only mortgage, but you’ll need a clear plan to repay the capital in full at the end.
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YOUR HOME/PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP WITH YOUR MORTGAGE REPAYMENTS. The FCA does not regulate mortgages on commercial or investment buy-to-let properties.
Can I get a mortgage if I’m over 65?
Yes, you can still get a mortgage if you're over 65. Many lenders are now more flexible with older borrowers, and some have no maximum age limit at all.
You can apply for a standard mortgage or consider specialist options designed for pensioners, such as borrowing against your home to free up cash. As people live and work longer, many lenders have raised their mortgage age limits with some having none, while others require repayment by age 70–95. Terms are often shorter (around 10–15 years), which means higher monthly payments, so you’ll need to prove you can manage them, even on a pension income.
What mortgage options are available for over 65s?
There are several different mortgage options available for people over 65. The most appropriate one for you will depend on your attitude to risk and the reasons you want a mortgage, including:
Moving home
Paying for home improvements
Releasing some of the equity (value) in your home for additional income
Below are four different mortgage options to consider:
Standard mortgages for over 65s
Many banks and building societies offer standard mortgages to over 65s for moving home or remortgaging. Terms may be shorter (10–15 years), meaning higher repayments, so you’ll need to prove you can afford them. Most are repayment mortgages, clearing the loan by the end of the term. Some lenders offer interest-only mortgage, but you’ll need a clear plan to repay the capital in full at the end.
Retirement interest-only mortgages for over 65s
Retirement interest-only mortgages are for over-65s who may not qualify for a standard mortgage.
Retirement interest-only mortgages work in a similar way to standard interest-only mortgages, as you only pay back the interest each month, not the loan. However, there are some key differences:
The loan is usually only paid off when you die, move into long-term care or sell your home.
You only have to prove you can afford the monthly interest repayments, not the amount borrowed.
They can be used to clear an existing mortgage or release funds in retirement, and some allow partial capital repayments to reduce the debt and leave more of your property to be passed on to your loved ones.
Equity release schemes
Equity release schemes lets you unlock cash from your home to fund retirement, home improvements, or even travel.
There are two types of equity release:
Home reversion plan
A lifetime mortgage, for those 55+, is a loan against your home repaid with interest when you die or move into care, with optional monthly interest payments to cut costs.
A home reversion plan lets you sell all or part of your home below market value for a lump sum or income, while staying in it
Equity release can have major implications for tax, benefits and inheritance, so it’s essential to seek financial advice first.
Older People’s Shared Ownership (OPSO)
The Older People’s Shared Ownership scheme in England, for those 55+, lets you buy 10–75% of a home and pay rent on the rest.
You can buy more shares later, but only up to 75%, after which no rent is due.
To qualify, you must meet income limits (£80k outside London, £90k in London), be unable to buy a suitable home without help, and not own another property.
Standard mortgages for over 65s
Retirement interest-only mortgages for over 65s
Retirement interest-only mortgages are for over-65s who may not qualify for a standard mortgage.
Retirement interest-only mortgages work in a similar way to standard interest-only mortgages, as you only pay back the interest each month, not the loan. However, there are some key differences:
The loan is usually only paid off when you die, move into long-term care or sell your home.
You only have to prove you can afford the monthly interest repayments, not the amount borrowed.
They can be used to clear an existing mortgage or release funds in retirement, and some allow partial capital repayments to reduce the debt and leave more of your property to be passed on to your loved ones.
Equity release schemes
Equity release schemes lets you unlock cash from your home to fund retirement, home improvements, or even travel.
There are two types of equity release:
Home reversion plan
A lifetime mortgage, for those 55+, is a loan against your home repaid with interest when you die or move into care, with optional monthly interest payments to cut costs.
A home reversion plan lets you sell all or part of your home below market value for a lump sum or income, while staying in it
Equity release can have major implications for tax, benefits and inheritance, so it’s essential to seek financial advice first.
Older People’s Shared Ownership (OPSO)
The Older People’s Shared Ownership scheme in England, for those 55+, lets you buy 10–75% of a home and pay rent on the rest.
You can buy more shares later, but only up to 75%, after which no rent is due.
To qualify, you must meet income limits (£80k outside London, £90k in London), be unable to buy a suitable home without help, and not own another property.
Why is it harder to get a mortgage over 65?
The closer you get to retirement, the more nervous lenders become about your ability to keep up with your mortgage repayments. This is because once you're retired you’ll no longer have a regular salary, which could increase the risk of missed mortgage payments.
Even if you have a pension to fall back on, it can be difficult for lenders to assess how much income you’ll receive. There’s also an increased risk of ill health as you get older which means you may not live until the end of your mortgage term.
Lenders that will offer you a mortgage may therefore reduce the mortgage term with higher interest rates to reflect the increased risk.
How can I increase my chances of getting a mortgage over 65?
A good approach is to provide clear evidence you can afford your monthly repayments for the full mortgage term. This might include payslips if you plan to keep working, pension forecasts, or other income like investments or rental property.
Clearing debts, cutting monthly costs, and checking your credit report (free from Equifax, Experian, or TransUnion) can also help. If you spot any mistakes, correct it as soon as possible.
Finally, shop around and compare mortgage deals as some lenders are more flexible than others.
Which lenders offer over 65s mortgages?
There are a number of mainstream banks and building societies that offer mortgages for those over the age of 65, but maximum age limits can vary. For example:
| Bank | Maximum age limit |
| HSBC | 75 |
| NatWest | 70 |
| Halifax | 80 |
| Santander | 75 |
| Leeds Building Society | 85 |
| Loughborough Building Society | No upper age limit |
| Suffolk Building Society | No upper age limit |
| Cambridge Building Society | No upper age limit |
Mortgages for over 65s FAQs
Do lenders have a maximum age limit for mortgages?
Most lenders will have a maximum age limit for mortgages, but this can vary between 70 and 95. A few lenders, such as Loughborough, Suffolk and Cambridge building societies, have no upper age limit at all.
Can you get a mortgage if you are a pensioner?
Yes, you can get a mortgage if you're retired and over 65. The key to getting accepted is to provide sufficient evidence that you can comfortably afford your mortgage repayments, whether this is through pension income or investments.
There are also specialist mortgages to consider, such as a retirement interest-only mortgage. These are designed for those aged 55 and over and work in a similar way to a standard interest-only mortgage, meaning you only pay back the interest each month, not the loan. The loan is repaid when you move into long term care, sell the home or pass away.
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