Mortgages for over 50s

Wondering whether anyone has obtained a mortgage as an older first time buyer, and what their experiences are? Me and my husband are 52 and 54, and this will be our first house purchase. Obviously the mortgage term will need to be relatively short! 
Which lenders are best to approach, or is there no real difference between them with regards lending to  people who are 50+?

We had a mortgage offer from Aldermore for a property, and used a broker, but they've now moved on, and we're now wondering whether Aldermore is indeed our best option, and what other's experiences have been with other lenders re: age. We're a bit jittery, about it all! Thank you. 


  • seclasecla Forumite
    201 Posts
    Part of the Furniture 100 Posts Combo Breaker
    age shouldn't make a difference to most lenders as long as your term finish's at retirement age or you have proof on an income after your retirement age.

  • edited 20 January at 9:14PM
    folkestonelisafolkestonelisa Forumite
    534 Posts
    Part of the Furniture 100 Posts
    edited 20 January at 9:14PM
    Hi, I have just applied for my first mortgage with NatWest, who lend up to age 75. Quite a competitive rate too. I am 52. 
  • BlondBoyBlondBoy Forumite
    184 Posts
    Part of the Furniture 100 Posts Name Dropper
    I did it for the first time at 51. End of term is when I’m 70. My main current account is with First Direct, got my offer from HSBC four days after I applied, no questions asked.

    As @secla says, worth thinking about your retirement ages - the longer past that your requested term goes, the more tricky it will get.
  • Clueless56Clueless56 Forumite
    96 Posts
    Fifth Anniversary 10 Posts Name Dropper
    I used a broker who found me my first mortgage at 57.  The term ends when I'm 75.  Once I had shown pension information to prove I could service the mortgage into retirement, it wasn't a problem and was very quick to arrange.
  • zAndy1zAndy1 Forumite
    241 Posts
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    We've just got a remortgage at 55 and my wife 50 with a 20yr term and we never had to provide any information to prove our retirement income was sufficient either. Bit shocking really if I'm honest but it keeps the contractual payments down and I fully intend to overpay with the intention to pay it of over the next 10 years max anyway. There are clearly options available though
Sign In or Register to comment.
Latest MSE News and Guides

Martin and MSE campaign win

April's 20% energy price guarantee hike postponed

MSE News

Childcare budget boost

More support for children from nine months and those on Universal Credit

MSE News

Energy Price Guarantee calculator

How much you'll likely pay from April

MSE Tools