Over 60s Mortgages
Over 60s mortgages from specialist later life lenders - covering standard repayment, retirement interest-only (RIO), and regulated equity release - with no blanket age cap from the right lender.
More options than most borrowers expect
Mainstream banks typically stop lending at 70 or 75. Specialist later life lenders have no such blanket restriction - they assess income in retirement including pension income, investment drawdown, rental income, and annuity income, and provide mortgage terms that reflect the borrower's actual financial position. The right product depends on the income available, the plans for the property, and what happens to the mortgage at term end.
Every later life mortgage option compared
Standard Repayment Mortgages
Capital and interest repayment mortgages for borrowers over 60 from specialist lenders who assess pension, investment, and rental income. No blanket age cap - terms assessed individually based on income and financial position.
Retirement Interest Only (RIO)
Monthly interest payments from retirement income with no fixed term end date. Capital repaid from the property sale on death, move to long-term care, or voluntary sale. Available from Hodge Bank, Bath Building Society, Livemore Capital, and others.
Equity Release
Lifetime mortgages for homeowners aged 55+ releasing equity without mandatory monthly payments. Interest rolls up and is repaid from the property sale. Equity Release Council member products carry a no-negative-equity guarantee.
Interest Only to RIO Conversion
Borrowers reaching the end of an existing interest only mortgage term can sometimes convert to a RIO product rather than repaying the capital in full. Specialist lenders assess eligibility based on the current property value and income position.
Joint Borrower Sole Proprietor
Adding a younger family member to the mortgage application - without adding them to the property title - extends the available term and improves income assessment. An increasing number of specialist later life lenders accept this structure.
Full Panel Comparison
From standard repayment through RIO to regulated equity release - we compare products across the whole panel. The right product for one borrower is completely wrong for another. We model the cost and impact of each option before making any recommendation.
How it works
Tell us your situation
Share your age, property value, retirement income sources, and what you want to achieve. We identify the most appropriate product type - repayment, RIO, or equity release - before comparing within that category.
Product type recommendation
We model the cost and impact of each available product type against your specific circumstances. The monthly payment, the amount that remains in the estate, and what happens at term end all differ significantly between products.
Lender comparison and application
Within the recommended product type, we compare the full lender panel and manage the application. Equity release requires independent legal advice as part of the process - we co-ordinate this.
Completion
Completion timelines vary by product. Standard repayment and RIO mortgages: 4-6 weeks. Equity release: 8-12 weeks including the independent legal advice requirement.
Looking for a mortgage in your 60s?
Tell us your age, property value, retirement income, and what you want to do. We identify the right product type and the best available terms - same working day response.
Frequently asked questions
Can I get a mortgage if I am over 60?
Yes. Specialist later life lenders offer standard repayment mortgages, retirement interest-only (RIO) products, and equity release to borrowers over 60. There is no universal age limit - lenders assess income and affordability individually.
What income can be used for an over 60s mortgage?
State pension, defined benefit pension, defined contribution drawdown, buy-to-let rental income, part-time employment, annuity income, and investment income can all be used by specialist lenders. The specific income types accepted vary by product and lender.
What is the difference between a RIO mortgage and equity release?
A RIO mortgage requires monthly interest payments from income - capital repaid when the property is sold. Equity release has no mandatory monthly payment - interest rolls up and is settled from the property sale. RIO suits borrowers with sufficient retirement income; equity release suits those wanting to preserve monthly cashflow.
Can I remortgage in my 60s to get a better rate?
Yes. Borrowers in their 60s can remortgage to a better rate when a fixed term expires, to release equity, or to switch from an existing interest only mortgage to a RIO product. Specialist lenders assess the remortgage on the same income basis as a new purchase application.
Is equity release right for me?
Equity release is a significant long-term financial decision. We model the cost and estate impact of equity release against RIO and other options before making any recommendation. Independent legal advice is required for all regulated equity release products.