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Can you get a mortgage at 60?

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UKUpdated 6 October 2026 · Written by BuyMeWhiskey Editorial Team · How we check facts

Yes. FCA rules don't set an age limit and allow a mortgage to run past retirement, but the lender must check you can afford it on your retirement income, and each lender sets its own maximum age, so a shorter term or a broker's help is often needed.

See how the term changes your payment: try the mortgage repayment calculator with 10, 15 and 20-year terms before you speak to a broker.

Open the Mortgage repayment calculator

There's no single age limit, but retirement income matters

The FCA's responsible lending rules don't set a maximum age. What they require is that a lender checks you can afford the mortgage, and that includes the years after you retire. The FCA's guidance says that if a mortgage term runs past the date you expect to retire, or past State Pension age if you don't know, the lender should take a "prudent and proportionate" approach to your income after that date. The closer you are to retirement, the more robust the evidence needs to be. At 60, expect to show pension statements, not just payslips.

Lenders then set their own policies, such as the oldest age at which a mortgage can end and what retirement income they'll count. These vary a lot, which is why a mortgage that one lender declines may be fine with another. MoneyHelper notes that it can get harder to get a new mortgage as you get closer to retirement age.

What a lender will look at

Income now: salary or self-employed profits, with payslips, bank statements or accounts.
Income in retirement: your State Pension forecast and any workplace or personal pensions. The full new State Pension is £241.30 a week (£12,547.60 a year).
The term: a shorter term means less time borrowing into retirement, but higher monthly payments.
Deposit: a bigger deposit means a smaller loan and lower payments, which helps a borderline application.
Credit history and outgoings, as for any borrower.

Mortgage options at 60 and over

A standard repayment mortgage over a shorter term

This is the most common route if you're still working. You clear the loan by an age the lender accepts. Payments are higher, but you own the home outright sooner.

A term into retirement

If your pension income will clearly cover the payments, some lenders will let the term run past your retirement date, following the FCA's affordability guidance above.

Retirement interest-only (RIO) mortgage

MoneyHelper describes RIO mortgages as loans for older borrowers, typically over 50 or 55, whose needs aren't met by a standard mortgage. You pay only the interest each month, and the loan is usually repaid when the home is sold, you die or you move into long-term care. You still need to show you can afford the interest now and after retirement, and lenders usually want the property to be your main home with a minimum amount of equity. They're mostly used to remortgage a home you already own rather than to buy.

Using pension money towards the deposit

From your scheme's minimum age, usually 55, you can normally take up to 25% of a pension pot as a tax-free lump sum. Using it as a deposit lowers what you need to borrow. But it also reduces the income the pension will pay later, which a lender will take into account. Get guidance before you decide.

Tips before you apply

Get your State Pension forecast and pension statements together before you apply.
Use a whole-of-market mortgage broker. Lender age policies differ, and MoneyHelper says an independent adviser can see which mortgages are available and suitable. There's usually a fee.
Don't stretch the term just to make the payment fit if you can't keep up the payments once your salary stops.
Don't make several full applications. A broker can often check a lender's criteria first.
Make a will and think about what happens to the mortgage if you die or need care.

For free, impartial guidance on pensions and retirement income, MoneyHelper's Pension Wise appointments are available if you're 50 or over and have a UK-based defined contribution pension.

Monthly payment on £85,500 at 5% by term

Worked example

Buying a £95,000 home at 60 with a 10% deposit: the deposit is £9,500, so the mortgage is £85,500. At an illustrative 5% interest rate, on repayment:

Term	Ends at age	Monthly payment	Total interest
10 years	70	£906.86	£23,323.22
15 years	75	£676.13	£36,203.14
20 years	80	£564.26	£49,922.92

If he retires at 67, the 15-year mortgage has 8 years left. The lender will want evidence that his pensions cover £676.13 a month, which is £8,113.56 a year, alongside his other living costs. A full new State Pension alone is £12,547.60 a year, so a workplace or personal pension would normally be needed too. A shorter term costs more each month but saves money overall: the 10-year term costs £12,879.92 less in interest than the 15-year one.

Try your own figures in the mortgage repayment calculator. Rates in your mortgage offer will differ.

What is the maximum age for a mortgage in the UK?#

There's no legal maximum age. FCA rules focus on affordability, including income after retirement, and each lender sets its own age limits for when a mortgage must end. A broker can tell you which lenders' age policies fit your plans.

Can I get a 25-year mortgage at 60?#

Only if a lender's age policy allows it and you can show your income, including pension income later, covers the payments for the whole term. FCA guidance says lenders should assess income beyond your expected retirement prudently. Many people over 60 end up with a shorter term, which costs more each month but much less in interest.

How do mortgage lenders assess income after retirement?#

If the term runs past your expected retirement date, or State Pension age if you don't know, the FCA says the lender should take a prudent and proportionate approach. Close to retirement, that usually means looking at actual pension statements and your State Pension forecast. The nearer you are to retiring, the more robust the evidence needs to be.

What is a retirement interest-only mortgage?#

A RIO mortgage is for older borrowers, typically over 50 or 55. You pay just the interest each month, and the loan is usually repaid when the home is sold, you die or you move into long-term care. You must prove you can afford the interest now and in retirement, and lenders usually require it to be your main home with enough equity.

Do I need a mortgage broker if I'm over 60?#

You don't have to use one, but it often helps, because lenders' age and retirement income rules vary a lot. MoneyHelper says an independent broker can see what's available and whether it suits you, though there's usually a fee. A broker can also avoid unnecessary credit applications.

Can I use my pension lump sum as a mortgage deposit?#

Yes. You can usually take up to 25% of a pension pot tax-free, normally from age 55 depending on your scheme, and put it towards a deposit. It will reduce the pension income you get later, which lenders consider when checking affordability in retirement.

Can I extend my mortgage term into retirement?#

Possibly. Lenders in the Mortgage Charter can extend terms for customers who are up to date, but an affordability check is needed if the new term would go beyond your expected retirement date. The lender will look at your pension income for those later years.

Keep reading

Sources

Figures checked against these sources on 6 October 2026. If a rule changes, we update the page and its date.

General information, not personal financial advice. Rules depend on your circumstances; check the official source or speak to a regulated adviser before acting.