Age

Age

The minimum age when applying for a mortgage can be 18 years.

The maximum age at the end of your mortgage term can be 80 years or older, depending on your circumstances and affordability.

Typically, the maximum age of borrowers at the end of their mortgage term would be between 66 and 70 years, depending on when your employment ends. If you have a good pension pot, and pension income to support your mortgage payment, your mortgage term can run well into your retirement age.

Retirement

If borrowers are considering extending their mortgage term into retirement, evidence of a pension pot or another source of income post-retirement is required before they can do so.

If applicants are already retired and want to apply for a new mortgage, providing evidence that their retirement income is sufficient to support their mortgage repayments makes obtaining a new mortgage possible.

“REPAYING YOUR MORTGAGE OVER A LONGER TERM INCREASES THE AMOUNT OF INTEREST YOU PAY, OVER THE TERM OF YOUR MORTGAGE.”
“Your home may be repossessed if you do not keep up with repaymentS on your mortgage.”