As a mortgage broker in Leicester, we regularly help customers who want to know whether they can still get a mortgage after turning 50.

There are plenty of options available, whether you are buying a new home, moving house, remortgaging, or looking to release value from your property.

Lenders will naturally look at factors such as your age, income, and retirement plans when assessing an application.

Each one takes a different view, so understanding which lenders are open to working with older borrowers is important. This is where an experienced mortgage advisor can make all the difference.

What do lenders look for?

When applying for a mortgage beyond the age of 50, lenders want to be sure that it will remain affordable in both the short and long term.

They take into account current income, any pensions or other retirement income, and your overall financial circumstances.

If you are still working, lenders will assess your income as usual.

For anyone approaching retirement, they may also ask for pension forecasts or evidence of how you will manage repayments once your employment income ends.

Some lenders offer mortgage terms that run well into retirement years, while others set an upper age limit for when the mortgage must be repaid.

For many older borrowers, choosing from the wide range of mortgages for over 50s in Leicester can help to secure the most suitable deal.

Mortgage Options For Borrowers Over 50

Many customers continue with standard repayment mortgages, either arranging a new deal or remortgaging an existing one.

For those with more specialist needs, there are products designed specifically for older borrowers.

Releasing funds from your home is another option to consider. For some, a lifetime mortgage in Leicester provides a way to access the value built up in their property, either to boost retirement income or to help family members.

These types of mortgages come with their features and considerations, and the best choice will depend on your circumstances and plans.

When Equity Release Might Be Worth Exploring

If you are thinking about unlocking money from your home, it is essential to take proper advice first.

Seeking equity release advice in Leicester from one of our qualified mortgage advisors will help you understand how the process works, the costs involved, and whether it is the right option for you.

A mortgage advisor in Leicester can also help you compare equity release with other mortgage options to ensure that you make an informed choice.

How Mortgage Advisors In Leicester Can Help

Every customer’s circumstances are unique, particularly when looking at mortgage options later in life.

Our mortgage advisors in Leicester regularly support customers aged 50 and over in finding a solution that meets their needs.

Whether you are staying in your current property, moving to a new home, or exploring ways to release equity, our team can explain the options available and recommend lenders suited to your situation.

If you are thinking about your next steps, speaking to a mortgage broker in Leicester like us, who has experience in this part of the market, is the most suitable way to start.

Date Last Edited: June 13, 2025