Turning 50 often brings new plans, and for many people, that includes moving home, switching mortgage deals or borrowing for the future. One of the questions we’re regularly asked is whether it’s still possible to get a mortgage once you’re over 50.
The short answer is yes, being over 50 doesn’t stop you from getting a mortgage. In fact, there are mortgage products designed specifically for borrowers in this age group, alongside standard options that may still be available depending on your circumstances.
Can I still get a mortgage If I’m over 50?
Yes, you can still get a mortgage if you’re over 50. Your age may influence how lenders assess the application, but it won’t prevent you from getting a mortgage altogether. Many people in their 50s take out mortgages to move home, switch deals, or borrow against their property, and there are plenty of lenders who support this.
At this stage in life, lenders tend to focus more on how long the mortgage term will run and how it will be repaid. If you’re approaching retirement, they’ll want to know how your income might change and whether you’ll still be able to manage repayments once you’ve stopped working.
Some people continue to apply for standard repayment mortgages in their 50s, while others look at age 50+ products such as retirement interest-only mortgages or lifetime mortgages. These are designed with later life in mind and offer different repayment structures that suit retirement income.
What types of mortgages are available over 50?
If you’re looking for a mortgage over 50 in Liverpool, there are several mortgage options that could be available to you, depending on your plans and financial situation. Many people in this age group can still access standard repayment mortgages, particularly if the term ends before retirement or if they can show enough income in later years.
Some lenders also offer interest-only mortgages, provided there’s a clear plan for how the loan will be repaid. This might include downsizing, using savings, or relying on other assets.
For those looking to borrow into retirement, age 50+ mortgage products are designed with flexibility in mind. These include retirement interest-only mortgages (RIOs), where you pay the interest monthly and the loan is repaid when the property is sold. Lifetime mortgages are another option for homeowners who want to release equity without taking on monthly repayments.
Each lender takes a different approach, and the right choice depends on your income, property value, and long-term goals. As a mortgage broker in Liverpool, we’ll help you find the most suitable route.
How do lenders assess mortgage applications over 50?
When you apply for a mortgage over 50, lenders will take a close look at your income, the length of the mortgage term, and how any repayments will be covered during retirement. They’ll want to be confident that the mortgage remains affordable both now and in the future.
If you’re still working, they may ask when you plan to retire and how your income is expected to change. If you’re already retired, they’ll usually look at pension income, savings, investments, or other sources of income. The goal is to ensure that payments can be maintained for the full length of the mortgage.
The term of the mortgage may also be shorter compared to what’s offered to younger applicants. In some cases, lenders will allow longer terms if retirement income is strong enough, or if the mortgage is interest-only with a clear repayment plan.
Every lender has different rules, and that’s where we can help.
Preparing For a Mortgage Over 50
If you’re planning to take out a mortgage over 50s in Liverpool, a bit of preparation can make a big difference. Lenders will look at your full financial picture, so it helps to have everything in order before applying.
Start by reviewing your income, this might include salary, pension forecasts, investment income or rental income if you have property. If you’re not yet retired, think about when you plan to stop working and how your income will change after that point.
Lenders may also ask about your monthly outgoings, debts, and any other financial commitments. Keeping credit accounts in good order and showing a clear track record of payments can strengthen your application.
It’s also worth thinking about the length of the term. A shorter mortgage term may suit your needs, or you might benefit from an interest-only arrangement if you have a plan for repaying the capital later on.
How can our mortgage advisors in Liverpool help?
If you’re over 50 and thinking about getting a mortgage, there are more options than you might expect. Whether you’re moving home, looking to remortgage, or exploring ways to borrow in later life, our team is here to help.
As a mortgage broker in Liverpool, we work with lenders who understand the needs of older borrowers and offer products that support a wide range of circumstances. We’ll take the time to understand your plans and help you find the right mortgage for your situation.
Date Last Edited: June 6, 2025
