Retirement Mortgages
A standard residential mortgage in retirement is more accessible than many people realise.
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What happens next
- Fill in the form (2 minutes).
- We'll match you with the right specialist for your situation.
- A specialist independent broker will contact you to discuss your options.
About Retirement Mortgages
Specialist lenders assess pension income, State Pension, annuity, drawdown, and investment income rather than applying the employment-era income multiples used by high-street banks. Terms extending into your 70s and 80s are available.
The options available
Capital Repayment Retirement Mortgage
Full repayment mortgage with monthly payments covering capital and interest. Shorter terms (5-15 years) are common in retirement. Specialist lenders assess pension income and accept terms ending at age 85-95.
Interest Only Retirement Mortgage
Pay only the monthly interest - the capital is repaid at term end from a defined repayment vehicle (property sale, investment portfolio, pension lump sum). Requires a credible repayment strategy.
Pension Income Mortgage
Lenders including LiveMore Capital accept State Pension, defined benefit pensions, defined contribution drawdown, annuity income, and SIPP withdrawals as qualifying income for standard residential mortgages.
Retirement Remortgage
Remortgaging an existing mortgage in retirement - to a better rate, to release equity, or to switch from interest-only to a RIO. Specialist lenders can take on mortgages declined by mainstream lenders at term end.
Purchase in Retirement
Buying a new property after 60, 70, or 80 - downsizing, moving to be near family, or purchasing a retirement-suitable property. Standard residential purchase mortgages available from specialist lenders.
Interest-Only Mortgage Expiry
Your existing interest-only mortgage term is ending and the lender wants repayment. A specialist can identify the options - retirement mortgage, RIO, equity release, or remortgage with a specialist lender - before a forced sale becomes necessary.
How It Works
Income review
A specialist will review all your income sources - State Pension, private pensions, drawdown, rental, investments - and identify which specialist lenders most favourably assess your specific income structure.
Lender matching
The specialist approaches the lenders whose age criteria and income assessment models suit your application - not the high-street lenders who will decline.
Application
The specialist manages the full application including pension income evidence, property valuation, and any term extension or remortgage documentation.
Completion
The specialist manages the process through to completion and can review your arrangements as your circumstances change.
Speak to our later life lending specialists
Call 0204 6211776 · Introductions to later life lending specialists
Frequently asked questions
Which lenders offer mortgages in retirement?
Specialist later life lenders including LiveMore Capital, Hodge Bank, Family Building Society, Suffolk Building Society, and Marsden Building Society are the most flexible for retirement-age applicants. Some mainstream lenders - Nationwide, Leeds Building Society, Bath Building Society - also extend to age 85 at end of term. A specialist can match your age and income profile to the right lender.
How is pension income assessed for a retirement mortgage?
Defined benefit (final salary) pensions are typically accepted at 100% of the annual payment. Defined contribution drawdown income is assessed either at the sustainable withdrawal rate (typically 3-4% of fund value) or at the actual drawdown amount if a formal withdrawal plan is in place. State Pension is accepted by all specialist lenders. Annuity income is accepted in full.
Can I get a 25-year mortgage in retirement?
A full 25-year term at 65 would end at 90 - within the criteria of several specialist lenders. Whether the monthly payments are affordable on pension income determines the realistic term. A specialist can model the monthly payment at different term lengths and identify which combination is affordable and acceptable to lenders.
What is the maximum age for a retirement mortgage application?
LiveMore Capital has no maximum application age. Hodge lends to age 88 at application. Family Building Society lends to age 90 at application. Suffolk Building Society has no maximum age. For standard mainstream mortgages, the typical application age limit is 70-75 - above which specialist lenders are required.
Can I get a retirement mortgage with only State Pension as income?
State Pension alone (currently £11,975/year for the full new State Pension in 2025/26) is typically insufficient for a mainstream mortgage. However, LiveMore Capital uses State Pension alongside other assets to assess overall affordability. For those with significant property equity and State Pension as their primary income, equity release may be more appropriate - a specialist adviser can compare both.