Many lenders will let you take out a loan as long as it’s repaid by your 75th birthday, and while some lenders are more flexible, some might want you to repay your mortgage by the time you retire. To see your retirement age, have a look at our article When can I reitre?. The age limits quoted below are for residential mortgages, as some lenders will let you repay a buy-to-let mortgage until you’re older.
Barclays: You must have repaid your mortgage by the time you reach 70 or by the time you’ve retired – whichever is sooner. If you’ll be older than this, the bank says it will still consider your application but you’ll need to provide proof that you’ll be able to repay your mortgage when it extends into your retirement.
Bath Building Society: You can apply for a mortgage with Bath Building Society up to the age of 80. The mortgage must be paid off by the time you reach the age of 85.
Chelsea Building Society: You must have repaid your mortgage by the time you reach your 80th birthday.
Clydesdale Bank: You must have repaid your mortgage by the time you reach your 75th birthday.
Halifax: The maximum age for a Halifax mortgage is 80.
HSBC: The maximum age for mortgage applicants (or for the oldest borrower for joint applications) is 75 at the end of the term. Applicants who will be 68 or older at the end of the term need to be able to show evidence of how they will continue to pay the mortgage for its full term.
Hodge Bank: This bank is a specialist equity release lender, but also offers a 50+ residential mortgage. When you apply for a 50+ mortgage, the bank will consider the earned income of both employed and self-employed customers up to a maximum age of 80, but there’s no upper limit if the mortgage is affordable on a pension income.
Leeds Building Society: You must have repaid your mortgage by the time you reach 85. The maximum age you can apply for a mortgage is 80.
Mansfield Building Society: You can repay your mortgage up to the age of 85.
Nationwide Building Society: If you’re not already a customer, you must have paid off your mortgage by the time you’re 75.
If you’re an existing customer and your mortgage isn’t due to be repaid until after you’re 75, you can take out another mortgage that lasts the same term as your existing loan (i.e. you can remortgage without being expected to repay your loan before you’re 75). Market Harborough Building Society: It will lend up to the age of 85 if you have enough retirement income, income from other earnings or a combination of both.
Metro Bank: The maximum age you can be at the end of your mortgage term is 80.
NatWest: You must have paid off your mortgage by the time you reach the age of 70.
Saffron Building Society: will lend up to the age of 75, but if you’re going to have a mortgage beyond the age of 65 you’ll need to provide evidence of how you’ll repay it.
Santander: Santander offers mortgages up to a maximum age of 75. For interest only mortgages the maximum age is normally 65. Santander doesn’t normally lend past the date you expect to retire.
Yorkshire Building Society: You must have repaid your mortgage by the time you reach your 80th birthday.