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Can I get a mortgage if I am retired?

While there’s no official maximum age limit on when you can get a mortgage, your age may affect how lenders view your mortgage application. Read on to find out why.

Ultimately, there’s no maximum age as to when you can get a mortgage. While this might seem like great news, a lot of lenders can be hesitant when granting mortgages for retired people. Let’s look into this a little further.

Mortgages for Retired People

What criteria do lenders operate?

Up to recently, the restrictions for people looking for a mortgage over retirement age were limited. The most lenient of lenders would still require that the mortgage application commence before you were at a certaing age, say 65 & that it ended by the time you were 85. Occassionally a lender would have no upper age limit but these were the exception rather than the rule.

Now, with many people coming to the end of their mortgage terms on an interest only mortgage, & with no way to repay the lump sum still outstanding, lenders are having to face the fact that an increasing number of people require mortgages well into their retirement years. This has given rise to such things as Retirement Interest Only mortgages & revision of tje dreaded equity release schemes.

Applying for a mortgage when you are retired or close to retirement has never been easy but, the options now available have made things a whole lot easier.

Why might it be difficult to get a mortgage for retired people?

Mortgage lenders are going to need to prove you have a sustainable income. Due to your retirement, this is likely to mean that you will be completely reliant on your pension fund. However, if you are not yet retired but your mortgage term will take you past retirement age your lender will ask you to provide a list of information before you start your mortgage application. This can include your expected retirement date, your expected retirement income and what your pension pot value is. So, we recommend that you try and get these things in order before you start your mortgage application!

What mortgage should you go for?

We gather that if you’re going for a mortgage as a retired person then it’s unlikely that this will be your first endeavour at buying a home. However, we also understand that having this knowledge won’t necessarily make the experience any less daunting.

This is why we recommend that you speak to your family and friends before making any decisions. It may be important to speak it through with them as borrowing money to support a mortgage could have a large impact on your inheritance plan. Alternatively, you can speak with a mortgage broker who will be able to tell you what tax and general financial implications this may have on you.


This is where we come in. At Mortgages.Online we can offer you expert advice on which mortgage deal would be best suited to your financial situation. Our team of experts have a broad range of knowledge over the entirety of the property market. This means that they compare a wide variety of deals from loads of lenders so that they can help find the right deal for you. All you have to do is drop them a message through our website. Or, you can check out some of the other articles on our site, it’s up to you!

We’re not all about mortgages at MO, we can also provide you with life insurance quotes and home insurance quotes too! As well as having a wealth of information on equity release mortgage rates and all other things mortgage related in our Articles section. More importantly, all of our services are free – no credit card needed!


Laura Waller

Laura Waller has been working in the mortgages industry since 2013, joining an independent brokerage in Essex. Laura has CeMAP 2 & 3 – Certificates in Mortgages Advice and Practice. Since then Laura oversees marketing for Mortgages Online, using her experience and expertise to write articles and blogs about mortgages and related topics.

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