Older man sat on bench in town

Getting a mortgage when you’re over 50

We are living longer, healthier and more active lives nowadays and some of us work well past 65 seeing as employers can’t discriminate on age anymore.

Figures from the Council of Mortgage Lenders show that in 2030 there are expected to be around 10 million more people aged 65 or over than now – but only around three million more between 20 and 64.

Paula Higgins, chief executive of the Homeowners Alliance said:

“Many lenders have increased their maximum age on mortgages in recent years with building societies leading the way.”

There are many options available to older people to get access to funds including downsizing, equity release (include link to equity release blog post) and remortgaging. However each comes with it’s rules and regulations so we advise speaking with an expert before making a decision.

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