Mortgages for Over 65s
At 65, you are at the core of the specialist later life lending market.
About Mortgages for Over 65s
Mainstream lenders begin to limit options - but specialist lenders including LiveMore Capital, Hodge Bank, and Family Building Society are purpose-built for this age group. State Pension, private pension, and drawdown income all accepted. RIO mortgages with no fixed end date are the primary option for interest-only borrowing.
The options we compare
Specialist Mortgage at 65
LiveMore Capital lends to any age at end of term. Hodge lends to age 88 at application. Family Building Society lends to 90 at application. At 65, a 15-20 year mortgage is achievable with the right specialist lender.
RIO at 65
The Retirement Interest Only mortgage is the primary option at 65 for those who want monthly payments without a fixed repayment deadline. Interest-only for life, capital repaid from property sale. All pension income types accepted.
Equity Release at 65
At 65, equity release LTV rises to approximately 30-35%. Drawdown plans allow you to take money as needed. Enhanced plans for health conditions can offer higher amounts. Independent advice compares equity release against RIO.
Remortgage at 65
Remortgaging at 65 when the existing lender's maximum age is reached. Specialist lenders take on these cases regularly - extending the term or switching to a RIO to remove the repayment pressure.
Interest-Only Expiry at 65
If an interest-only mortgage is maturing at 65, we assess RIO conversion, equity release, specialist remortgage, or downsizing - whichever best resolves the situation without a forced sale.
Purchase at 65
Buying a retirement-suitable property, downsizing, or moving to a different area at 65. Specialist purchase mortgages available on pension income.
How We Help
65+ income assessment
State Pension, private pension in payment, DC drawdown, annuity, rental, and investment income all assessed. We identify the most favourable lender assessment methodology for your income mix.
Product choice
At 65, the RIO vs equity release decision is particularly important. We model both options with full interest projections and estate impact before any recommendation.
Lender sourcing
LiveMore Capital, Hodge Bank, Family Building Society, Legal & General, and others are the primary lenders at 65. We source competitive terms from the whole market.
Completion
We manage the application through to completion.
Speak to our later life lending specialists
Call 0204 6211776 · Whole-of-market advice across all later life products
Frequently asked questions
What is the maximum mortgage I can get at 65?
Depends on income and lender. LiveMore Capital has no maximum age cap at end of term - so a 20-year mortgage at 65 ending at 85 is achievable if affordable. Hodge Bank lends to age 88 at application, allowing a 23-year mortgage at 65. The limiting factor is monthly affordability on pension income, not age.
Is the State Pension enough income for a mortgage at 65?
State Pension alone (£11,975/year in 2025/26) is typically insufficient for a significant mortgage. Combined with a private pension, drawdown, or rental income, specialist lenders can use State Pension as part of the affordability picture. For those with only State Pension income and no other sources, equity release may be more appropriate.
Can I switch from my interest-only mortgage to a RIO at 65?
Yes - and this is one of the most common transactions at 65. Your existing lender may be declining to extend the interest-only term. Specialist RIO lenders take on these remortgage cases. LiveMore and Hodge are the primary lenders for this scenario.
How much can I release with equity release at 65?
At 65, typical equity release LTV is 30-35% of property value. A £300,000 property at 65 might release approximately £90,000-£105,000 on a standard plan. Enhanced plans for health conditions can release more. A drawdown plan allows you to hold a larger reserve and draw only what is needed.
Do I need a repayment strategy for an interest-only mortgage at 65?
For a standard interest-only mortgage, yes - most lenders require a credible repayment vehicle (property sale, investment portfolio, pension lump sum). For a RIO, no - the capital is repaid from the eventual property sale with no fixed deadline. For a lifetime mortgage, no - the capital and interest are repaid from the property sale.