Over 70s Mortgages
Mortgages for borrowers in their 70s from specialist later life lenders - retirement interest-only, equity release, and standard repayment products - with no blanket age cap from the right lender.
The specialist market for over 70s lending
The majority of mainstream mortgage lenders will not advance a mortgage beyond the borrower's 75th birthday. The specialist later life lender panel - Hodge Bank, Bath Building Society, Livemore Capital, and others - is built specifically for this borrower group, assessing pension income, investment drawdown, and other retirement income sources rather than applying a blanket age barrier.
Every over 70s option placed
Retirement Interest Only (RIO)
The most commonly used product for borrowers over 70. Monthly interest from pension or investment income, no fixed term end, capital repaid from property sale. Available from Hodge Bank, Bath Building Society, Livemore Capital, and others on our panel.
Equity Release (Lifetime Mortgage)
No mandatory monthly payments - interest rolls up and is repaid from the property sale. The older the borrower, the higher the maximum LTV. At 70, most providers release up to 35-40% of property value, rising with age.
Standard Repayment Mortgages
A small number of specialist lenders advance standard capital and interest repayment mortgages to borrowers over 70 on shorter terms - typically 5 to 15 years - where pension and drawdown income supports the payments.
Drawdown Lifetime Mortgage
Initial lump sum with a reserve facility from which additional funds can be drawn as needed. Interest accrues only on amounts drawn - making drawdown equity release more cost-effective than a single lump sum product.
Interest-Serviced Equity Release
Some equity release products allow voluntary monthly interest payments. Making payments prevents compounding, preserving more of the property value for the estate. Available from selected Equity Release Council members.
Estate and Benefits Planning
Releasing equity affects capital assets which may impact means-tested benefits and what remains for the estate. We model the cost and estate impact before any recommendation and recommend independent financial advice on benefits implications.
How it works
Tell us your objectives
Share your age, property value, retirement income, and what you want the mortgage to achieve. We model the impact of RIO, equity release, and repayment before recommending a product type.
Product and lender recommendation
We identify the most appropriate product type for your specific situation - not the one with the highest broker commission - and then find the best available lender within that category.
Application and legal
We manage the application. Equity release products require independent legal advice as a regulatory requirement - we co-ordinate the full process including the ILA appointment.
Completion
RIO mortgages: 4-6 weeks. Equity release: 8-12 weeks including independent legal advice. We stay involved through completion and resolve any conditions promptly.
Looking for a mortgage in your 70s?
Tell us your age, property value, retirement income, and what you want to achieve. We identify the most appropriate product and the best available terms.
Frequently asked questions
Can I get a mortgage if I am over 70?
Yes. Specialist later life lenders offer retirement interest-only mortgages, equity release, and in some cases standard repayment mortgages to borrowers over 70. Mainstream banks typically will not lend past 75 - specialist lenders have no blanket age cap.
How much equity can I release if I am over 70?
At 70, many providers release up to 35-40% of the property value. At 75, this rises to around 40-45%, and continues to increase with age. Individual lender calculators model exact figures for your property value and age.
Do I need income evidence for equity release?
For a roll-up lifetime mortgage where no monthly payments are made, most equity release providers do not require income evidence. The loan is sized against the property value and the borrower's age. For RIO mortgages, pension and drawdown statements are required.
What happens to the mortgage if I need to move into care?
Both RIO mortgages and lifetime mortgages specify that a permanent move into long-term care triggers repayment from the property sale. Most equity release products allow 12 months for the property to be sold after the borrower moves to care.
Will equity release affect my means-tested benefits?
Releasing equity increases capital assets, which may affect entitlement to means-tested benefits including pension credit and council tax reduction. Consult a specialist financial adviser about benefits implications before proceeding.