If you’re wondering whether age might limit your chances of getting a mortgage, you’re not alone. It’s a common question, especially for those planning their next step later in life.

The good news is that getting a mortgage in your 50s or 60s is more common than ever, and there are plenty of options available. Whether you’re moving home or looking to remortgage in Manchester, lenders are open to a broader mix of borrowers than they once were.

Will My Age Impact My Chances of Getting a Mortgage?

While age is something lenders take into account, it’s rarely the deciding factor. There are plenty of standard mortgage options available for people in their 50s, 60s and beyond, especially when your income is steady and your plans are clear.

Lenders will usually look at how long the mortgage will run, how repayments will be managed, and what your income might look like over time. This often includes checking whether you’re still working, how long you plan to work for, or whether you have a pension in place.

Being older doesn’t mean you’ll be restricted to specialist deals. Many lenders are happy to offer standard residential mortgages well into later life, provided the application fits their criteria.

Our mortgage advisors in Manchester work with lenders who are flexible around age and mortgage terms. Whether you’re planning to retire soon or continue working, we’ll help you explore the options that suit your situation best.

Can I get a mortgage if I am retired?

Yes, it is possible to get a mortgage after you’ve retired. Many lenders offer mortgage products for people who are no longer working, and your application will usually be based on your retirement income and overall affordability.

If you’re retired and applying for a mortgage in Manchester, lenders will look at how you plan to repay the loan. This might include pension income, savings or other assets. As long as the repayments are considered affordable for the term of the mortgage, your age or retired status shouldn’t be a problem.

You won’t always need to look for a specialist deal either. There are plenty of standard products available, depending on your circumstances. A retirement mortgage in Manchester could help you move home, remortgage, or even release some equity if that suits your plans.

What types of mortgages are available later in life?

If you’re in your 50s or beyond, you may still have access to a wide range of mortgage options.

The right choice depends on your income, property plans, and how long you’d like the mortgage to run.

Traditional Mortgages

Many people in later life still qualify for a standard residential mortgage. This can work well if you’re still working or have a reliable income in retirement. Some lenders are happy to consider applications well into your 70s or even 80s, as long as the mortgage term and repayment plan are realistic.

A traditional mortgage may be suitable for moving home, buying a new property, or remortgaging an existing one. If your income supports it, this can be a straightforward option without the need for specialist lending.

Equity Release

Equity release in Manchester is another option for those who are older, typically starting from age 55. This lets you unlock some of the value in your home without having to move out.

The most common types are lifetime mortgages and home reversion plans…

Lifetime Mortgages

With a lifetime mortgage in Manchester, you borrow against the value of your home, and the loan is repaid when the property is sold, usually when you pass away or move into long-term care.

You retain ownership of your home, and interest is either rolled up or paid monthly, depending on the product.

Home Reversion Plans

Taking out a home reversion plan in Manchester involves selling a share of your home to a provider in exchange for a lump sum or regular payments. You remain in your home for life, with a portion of it sold to the provider as part of the agreement.

These plans are less common now, but still an option in certain circumstances.

Which option is right for you?

The best choice depends on what you need the mortgage for and how you’d like it to work with your income, assets and plans for the future.

Some people prefer to keep things simple with a traditional mortgage. Others may benefit more from the flexibility of equity release.

If you’re exploring your options later in life, you can book a free appointment to speak with our mortgage advisors in Manchester. We’ll talk through your situation and help you find a path that feels right for you.

Ready to explore your age 50+ mortgage options in Manchester?

Whether you’re planning for the future, adjusting to a change in circumstances, or simply thinking about your next move, there’s no reason age should hold you back from finding the right mortgage.

With access to a wide range of lenders and later-life mortgage products, our team are here to help you explore what’s possible. We’ll take the time to understand your plans, explain your options clearly, and support you through each step of the process.

It all starts with a free appointment. Whether you’re looking to move home, remortgage, or explore retirement lending, our mortgage advisors in Manchester are here to help you move forward with confidence.

Date Last Edited: May 22, 2025