Many pensioners still need access to mortgage options, whether they’ve already retired or are planning for the years ahead. We regularly speak to pensioners in Liverpool who are looking to move home, remortgage or borrow in later life.
The idea that mortgages are only available to people in full-time work isn’t quite true. Many lenders will consider applications from pensioners, as long as the income and overall circumstances fit their criteria.
Can pensioners still get a mortgage in retirement?
Being retired doesn’t mean you cannot get a mortgage. While lenders approach pension income differently from employment income, many are open to applications from retired borrowers, especially if the income is stable and the term fits within their lending policy.
If you’re applying for a retirement mortgage in Liverpool, the key factor is how the repayments will be managed. Lenders will usually want to see evidence of pension income, either from the state, a workplace scheme or private pensions. They may also take savings or investment income into account, depending on the product.
The age you are when the mortgage starts and when it ends, can also influence what’s available. That said, there are lenders who offer products specifically designed for borrowers in later life, including options that extend well into retirement.
What types of mortgages are available for pensioners?
Pensioners have more choice than many people expect when it comes to mortgages. Depending on your income and age, you may still be eligible for a standard repayment mortgage or an interest-only deal that fits your retirement plans.
Some lenders also offer age 50+ mortgage options. These are built to support later-life borrowing and can be more flexible in how they assess income and structure the term.
If you’re looking to access money from your home without taking on monthly repayments, taking out a lifetime mortgage in Liverpool could also be considered. This lets you release equity while continuing to live in your property, which can offer added freedom in retirement.
As your mortgage broker in Liverpool, we’ll explain how each option works and help you find one that suits both your income and your future plans.
How do lenders assess pension income for a mortgage?
When you apply for a mortgage as a pensioner in Liverpool, lenders will look at how your income is made up and whether it can support the repayments over the term. While the process is slightly different from applying while in full-time work, many lenders are happy to consider pension income.
This can include your state pension, workplace or private pensions, annuities, and in some cases, income from investments or rental properties. Some lenders will accept a combination of income sources, as long as they are regular and can be verified.
Lenders may also look at your age and how long the mortgage is expected to run. This helps them understand whether the repayments will remain affordable for the full term.
Can I remortgage if I’m already retired?
Yes, remortgaging is still possible after retirement, and many pensioners choose to do so for a variety of reasons. Some want to secure a better deal, reduce their monthly payments, or move to a product that offers more flexibility in later life.
Lenders will look at your income in retirement, which might include pensions, savings, or other regular income. If the repayments are affordable and the term suits your age, there are often several options to explore.
Remortgaging can also be a way to free up money for home improvements, support loved ones, or bring existing borrowing to an end. Whatever the reason, it’s about finding a mortgage that works for you now and in the future.
Are there mortgage options for pensioners over 70 or 80?
Yes, there are mortgage options available for pensioners over 70 or even over 80, though the range of products may be more specialised. Many lenders set age limits based on how old you’ll be when the mortgage ends, but these limits vary and some providers offer more flexibility than others.
If you’re in your 70s or 80s, you may still be able to get a standard mortgage or remortgage, depending on your income and the term length. There are also later-life mortgage options specifically designed for older borrowers. These include retirement interest-only mortgages and lifetime mortgages, which work differently from traditional repayment deals.
The key is finding a product that fits both your income and your long-term plans for the property. Some options offer greater flexibility, such as no monthly repayments or the ability to protect a portion of your home’s value.
Speak to a mortgage broker in Liverpool
If you’re a pensioner thinking about getting a mortgage in Liverpool, there are options available, whether you’re retired already or planning ahead. Your income, age, and goals for the property will all play a part in what’s possible, but there’s often more flexibility than people expect.
As a mortgage broker in Liverpool, we help pensioners find the right mortgage based on their circumstances. Whether you’re looking to remortgage, borrow into retirement, or explore later-life options, our team is here to support you through every step.
Date Last Edited: June 9, 2025
