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Mortgages for Over 50's

Best Mortgage Rates

I Want to Buy I Want to Remortgage

Mortgages for Over 50's

    • 3.89% Initial
    • 5 year fixed
    • 5.9% APRC
    • Cashback Max £1,250
      Free Legals
      Free Valuation
    • Get quotes
    • 3.92% Initial
    • 5 year fixed
    • 6.7% APRC
    • Cashback Max £250
      Free Legals
      Free Valuation
    • Get quotes
    • 3.92% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 3.94% Initial
    • 5 year fixed
    • 6.4% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 3.97% Initial
    • 5 year fixed
    • 6.5% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 3.98% Initial
    • 5 year fixed
    • 6% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 3.99% Initial
    • 5 year fixed
    • 6.5% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.00% Initial
    • 5 year fixed
    • 6.8% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.00% Initial
    • 5 year fixed
    • 5.9% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes
    • 4.00% Initial
    • 2 year fixed
    • 6.7% APRC
    • Cashback £0
      Free Legals
      Free Valuation
    • Get quotes

Representative example based on a fixed rate mortgage

A mortgage of £375,000 payable over 20 years initially on a fixed rate for 5 years at 4.38% and then at the standard variable rate of 7.65% for the remaining 15 years would require 60 monthly payments of £2,351.88 and then 180 monthly payments of £2,899.55.

The total amount payable would be £663,156.80 which includes interest and product fees of £1,124.

The overall cost for comparison is 6.5% APRC representative.

Early repayment charges may apply.

Mortgages for Over 50s

Because lenders assume that older borrowers will retire before their mortgage term ends, they may have a harder time securing a mortgage than younger borrowers.

However, some lenders are willing to take on older mortgage customers, including specialist lenders who specialize in over 50s mortgages.

Over 50s looking for a mortgage, we can help you find the best mortgage deals currently available, helping you find affordable mortgage finance.

 

Over 50s mortgage comparison

As a result of factors such as age, health and retirement, mortgage lenders may be reluctant to offer the best value deals to older home buyers.

To find the most attractive over 50s mortgage deals, you will need to shop around to find mortgage lenders who are willing to offer good rates to older customers. This process can be simplified, sped up, and made less stressful with the help of our mortgage advisors.

 

Mortgage lending criteria for over 50s

You need to prove that you have adequate income to repay your mortgage. You are probably still employed in your 50s, so proving your income shouldn't be a problem.

It is likely that mortgage lenders will ask you for proof of a steady income from pensions, investments, and insurance policies if you are no longer working.

A guarantor can agree to guarantee your mortgage repayments if you become unable to make them if your income is not enough. You will need to demonstrate that your guarantor can afford to cover your mortgage payments.

 

Mortgages with equity release

You may want to consider an equity release mortgage if you own your current home and need capital. Equity release mortgages are different from standard residential mortgages and are not suitable for everyone. If you are considering equity release mortgages, you should seek independent advice.

 

To investigate your finance options call our broker team or fill in our call back form -  speak to our independent mortgage broker team who will be able to offer impartial advice or you can call us on 0117 403 3464

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