Can I Get a Mortgage at 60?

If you’re aged 60 or older, you might be wondering if it’s still possible to obtain a mortgage in the United Kingdom. Lenders typically set an age limit for mortgages which can pose as a hurdle for older applicants.

However, there are some lenders who provide over 60s mortgages with fewer restrictions than many high street lenders. Rates may be slightly higher but you could potentially find a specialist lender who will assess your application based on personal circumstances.


People aged 60 and older in the United Kingdom can still obtain a mortgage, although their options may be more limited than younger borrowers. Lenders often impose age limits on mortgage deals since they understand that older borrowers have greater potential for becoming indebted.

They may also experience health issues that make it challenging to meet the terms of a standard mortgage. While age restrictions make it harder for those over 60 to secure a loan, there are exceptions such as lifetime mortgages and equity release schemes.

In 2014, the Mortgage Market Review (MMR) implemented new regulations on mortgage lenders that required them to assess affordability before approving an application. As such, some of these lenders have set maximum age limits of 70 or 75 years old as a result.

Credit history

A credit history is a record of how you’ve managed your debts and the responsibility you showed in repaying them. This information is stored by three nationwide credit bureaus, also referred to as consumer reporting agencies (CRAs).

Lenders review your credit history to assess how well you’ve paid off debts and whether or not they expect you to remain responsible in the future. They use this data to decide if you are a suitable candidate for a loan, and if so how much they may offer you.

Mortgage lenders require borrowers to have a credit history of at least seven years before they consider accepting an application. This is because shorter histories appear more risky to them, and they want assurance that you can fulfill any mortgage repayments should one be necessary.

Start building a credit history by opening multiple credit accounts and paying them off on time each month. It’s also beneficial to keep old credit cards open, as this will give you a longer credit history and increase your overall score.


In the United Kingdom, there has been an uptick in demand for mortgages among older borrowers. As a result, more lenders are now providing these loans to those over 60.

When applying for a mortgage as an elderly individual, there are several things to take into account. You’ll likely have to demonstrate your ability to make monthly payments.

Lenders want to ensure you have enough assets to back your mortgage payment. Typically, they’ll require at least several months’ worth of reserves in your personal bank accounts for verification purposes.

Asset verification can seem like a daunting task, but there are ways to increase your chances of approval. For instance, seasoning your assets by moving them into an individual bank account two months prior to applying for the mortgage is recommended.


In the United Kingdom, there is no age limit to getting a mortgage. Thanks to the Equal Credit Opportunity Act, lenders cannot discriminate based on age.

Mortgages can be an excellent way to access the equity in your property and supplement your retirement income. You have several options when it comes to taking out a standard mortgage; equity release or lifetime mortgages offer no-negative-equity guarantees for added peace of mind.

However, mortgage options tend to be more limited for individuals over 60. Lenders need to guarantee that you can afford to repay a mortgage during retirement, so making payments during retirement may prove more challenging than anticipated.

You can make this work by providing evidence that your pension, annuities, savings or investments will provide enough monthly income to meet your mortgage payments. Alternatively, you could consider taking out a retirement interest-only mortgage.

At 60, you have two options for getting a mortgage: determine your finances and find a lender willing to accept you as a borrower. Which option is best for you depends on individual circumstances and how much money can be spare each month; however, most mortgage advisers should be able to assist in this process.

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