If you’re thinking about applying for a mortgage later in life, you might be wondering whether age could be a barrier.
Many lenders are happy to work with older applicants, and it’s often more straightforward than people expect to get a mortgage later in life.
Whether you’re moving home, remortgaging, or buying for the first time, there are lenders who will look at your income, affordability and future plans – not just your age. As long as the mortgage is affordable and suits your situation, there are usually options to explore.
Is there an age limit for getting a mortgage?
There’s no fixed age limit for getting a mortgage in York, but the type of mortgage you apply for will influence how long it can run.
Many standard residential lenders set age limits for both applying and when the mortgage should be repaid, often somewhere between 70 and 85.
That said, there are later-life mortgage products designed to run much longer. Some mortgages don’t have an end date and only come to an end when you pass away or move into long-term care.
These include retirement interest-only mortgages and lifetime mortgages in York, which are more flexible around age and repayment.
Can I get a mortgage in my 50s, 60s or 70s?
Yes, you can still get a mortgage in your 50s, 60s or 70s. Many lenders offer mortgages to older applicants, especially if the repayments are affordable and there’s a clear plan in place for how the mortgage will be repaid.
In your 50s and early 60s, most standard mortgage options are still available, particularly if you’re working or have a strong pension in place.
As you move into your later 60s or 70s, the choice of lenders may narrow slightly, but there are still products designed for people in this age group.
Some mortgages are built specifically for older homeowners and don’t have a fixed end date. These can be useful if you’re retired or planning for the years ahead, as they’re designed to run for as long as you need them.
What types of mortgages are available later in life?
If you’re exploring mortgage options later in life, there are more choices than many people expect. The right type of mortgage will depend on your income, future plans, and whether you’d prefer to make monthly payments or not.
Repayment mortgages are often available if you’re still working or receiving regular pension income. These work like any standard mortgage, with monthly payments that gradually reduce the balance over time.
If you’d prefer lower monthly outgoings, some choose an interest-only or a retirement interest-only mortgage in York. These let you pay just the interest each month, with the full amount usually repaid when the property is sold in the future.
Lifetime mortgages are designed to run for as long as you need them. They don’t require monthly payments and can allow you to stay in your home while using some of its value if needed.
How does retirement affect mortgage options?
Retirement doesn’t mean you can’t get a mortgage in York, but lenders will look at your income differently. Instead of using a salary, they’ll assess your pension income, savings, or any other regular sources of money to decide what’s affordable.
If you’re already retired, you may be asked to provide recent pension statements or proof of any other income. If you’re approaching retirement, lenders might want to know when you plan to stop working and how your income will change after that.
The key is showing that your repayments will remain affordable for the full length of the mortgage. As long as the numbers work, there are lenders who are happy to offer mortgage options during retirement.
Do I need to be mortgage-free by a certain age?
You don’t always need to have your mortgage fully paid off by a set age.
While many standard mortgage lenders prefer the loan to be repaid by the time you reach 70 or 75, there are options that extend beyond that, especially if you have a strong income or choose a product designed for older borrowers.
Some later-life mortgages, such as retirement interest-only or lifetime mortgages, don’t have a fixed end date. These can continue for as long as you live in the property, giving you more flexibility and removing the pressure to meet a strict repayment deadline.
The key is finding a mortgage that matches your plans and income, whether you’re still working, receiving a pension, or already retired.
What should I expect when applying for a mortgage later in life?
Applying for a mortgage later in life isn’t as difficult as many people think. Lenders are more flexible than they used to be, and there are products designed to suit a wide range of financial situations.
Whether you’re still working, receiving a pension, or looking to access the value in your home, there are options worth exploring. It’s all about finding a mortgage that fits your income, plans, and the stage of life you’re in.
If you’re thinking about applying for a mortgage in York and want to understand what’s possible, the right advice can help you move forward with confidence.
Date Last Edited: October 31, 2025
