Mortgages Over 70
Complete guide to getting a mortgage when you're over 70 - lenders with no age limit, RIO mortgages, and later life lending options
Can you get a mortgage if you're over 70?
Yes, you can get a mortgage over 70. While mainstream lenders often have age limits of 70-85 at term end, several specialist lenders have no upper age limit. Options include Retirement Interest Only (RIO) mortgages where you only pay interest with no fixed end date, shorter-term standard mortgages, and equity release. Lenders assess affordability based on pension income, investments, and other retirement income.
Several specialist lenders have no maximum age, assessing applications on affordability rather than age
Retirement Interest Only mortgages - pay interest only with the loan repaid when you sell, move to care, or pass away
State pension, private pensions, annuities, and investment income all count towards affordability
Mortgage Options for Over 70s
The most popular option for over 70s. You pay interest each month but don't repay the capital. The mortgage ends when you sell, move into long-term care, or pass away.
Advantages:
- Lower monthly payments (interest only)
- No fixed end date
- Retain home ownership
- Leave remaining equity to family
Considerations:
- Balance never reduces
- Must afford interest payments
- Rates may be higher than standard
A standard mortgage with a shorter term (5-15 years). Higher monthly payments but you own the property outright at the end.
Best for: Those with higher pension income who want to be mortgage-free
No monthly payments at all - interest rolls up and is repaid when you sell or pass away. Minimum age typically 55.
Learn more about equity release →Lenders with No Upper Age Limit
| Lender | Max Age | Notes |
|---|---|---|
| Hodge | No limit | Specialist later life lender, RIO and standard products |
| Family Building Society | No limit | Flexible with older borrowers, pension income friendly |
| Marsden Building Society | No limit | Individual assessment, no maximum age |
| Bath Building Society | No limit | Case-by-case basis, specialist older borrower products |
| Leeds Building Society | No limit | RIO mortgages available, pension income accepted |
| Newcastle Building Society | No limit | Later life mortgages, individual underwriting |
Note: Product availability and criteria change regularly. A specialist later life mortgage adviser can identify the best current options.
Income Types Accepted for Over 70s
Commonly Accepted
- State pension (full new state pension: £11,502/year)
- Private/workplace pension income
- Annuity payments
- Pension drawdown income
- Investment dividends and interest
- Buy-to-let rental income
- Part-time employment income
May Be Considered
- Future guaranteed pension (before age 75)
- Trust income
- Maintenance payments
- Foster care income
- Director's salary/dividends
- Royalties and licensing income
Common Reasons for Mortgages Over 70
Downsizing
Moving to a smaller property but bridging a timing gap or releasing extra funds
Remortgaging
Moving from interest-only to RIO when existing mortgage ends, or releasing equity
Helping Family
Releasing equity to help children or grandchildren with deposits
Life Changes
Divorce, bereavement, or relationship changes requiring new mortgage arrangements
Home Improvements
Releasing equity for adaptations, extensions, or maintenance work
Debt Consolidation
Consolidating expensive debts into a lower-rate mortgage payment
People Also Ask
Later Life Mortgage Advice
Finding a mortgage over 70 requires specialist knowledge. Our advisers understand which lenders work with older borrowers and can match your pension income to the right product - whether that's a RIO mortgage, short-term standard mortgage, or equity release.
Related: Mortgages Over 50 | RIO Mortgages | Equity Release | Later Life Lending