Mortgages for over-65s – mission possible!
Home >
All >
Mortgages for over-65s – mission possible!
Are you over sixty-five and finding it challenging to get a mortgage? You’re certainly not alone, according to recent findings1.
With the number of people in the UK aged over 65 soon expected to surpass those aged 18 and under, just 37% of potential borrowers aged 65 and over are offered the size of loan requested, compared with 75% of younger borrowers; despite the average loan request being much lower for older borrowers (£100,000 for older borrowers versus £216,750 for those aged under 65 – March 2022).
Lenders are looking for evidence that you will be able to make the repayments for the entire term of your mortgage. It’s also important to be able to demonstrate that you’re a responsible borrower with a stable income. Getting a mortgage as an older borrower is not mission impossible; whatever your circumstances, we can help.
1MBT Affordability Index, 2022
It is important to take professional advice before making any decision relating to your personal finances. Information within this document is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK. We cannot assume legal liability for any errors or omissions it might contain. Levels and bases of, and reliefs from, taxation are those currently applying or proposed and are subject to change; their value depends on the individual circumstances of the investor. No part of this document may be reproduced in any manner without prior permission.
The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated. If you withdraw from an investment in the early years, you may not get back the full amount you invested. Changes in the rates of exchange may have an adverse effect on the value or price of an investment in sterling terms if it is denominated in a foreign currency.
Information is based on our understanding of taxation legislation and regulations. Any levels and bases of, and reliefs from, taxation are subject to change.
Tax treatment is based on individual circumstances and may be subject to change in the future.
Other Insights of interest
6th May, 2025
Your pension and IHT
Chancellor Rachel Reeves announced plans to include unused pension funds and death benefits within the…
Read full insight
6th May, 2025
Economic Review April 2025
UK economy returns to growth Data released last month by the Office for National Statistics…
Read full insight
29th April, 2025
Residential Property Review – April 2025
Most homeowners underestimate property value by tens of thousands Zoopla research says most homeowners are…
Read full insight
29th April, 2025
Commercial Property Market Review – April 2025
Office market outlook brightens as demand outpaces supply The UK office market is recovering, with…
Read full insight