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Best mortgages for people over 70 years old – 5.1% Fixed for life

  • Release tax-free cash from your home – mortgages for 70 year olds
  • 5.1% fixed for life
  • Loan to value of 65%
  • Not necessary to make monthly payments
  • Use the money for a holiday
  • Continue to stay in your home
  • It can be used to help with tax planning.

How much cash can I release?

You can achieve 65% of your home’s valuation. For example, if your house is valued at £240,000, you can release £156,000.

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    Please enter a value between £10,000 and £25,000,000
  • Please enter a number from 50000 to 25000000.
    Please enter a value between £50,000 and £25,000,000
mortgages for pensioners over 70

Testimonials and Example Cases

david-p-london mortgages for 70 year olds

David P

With my power of attorney, I got an equity release on my father’s house to pay for disability provisions, including a lift and a new kitchen.

mrs-daly

Mrs Daly from Glasgow

My daughter lives in the States and does not have health insurance. My £ 30,000 lifetime mortgage paid the medical bills for her son’s birth and a year’s rent in advance for a new flat for the baby.

RIO

Mrs G from Leeds

My daughter is a single mother, and I got a £ 120,000 lifetime mortgage to buy her a flat outright as she has had a succession of poorly maintained rental flats not suitable for her child.

RIO

Ms G from Dover

mortgages for 70 year olds

I divorced my husband, who was a violent alcoholic. I feared losing my home as I sometimes looked after my daughter’s children. Equity release enabled me to pay off my ex and stay secure in my house.

Mrs V from Hastings

I had spent my life running up credit cards and loans, then getting interest-only mortgages to pay off the debt. I reached retirement age and still owed the bank £160,000. The term was about to expire, and I could not afford the payments on my pension anyway. I got £180,000 equity release, and now I am more comfortable with no monthly repayments. I spent £20,000 on a new bathroom and kitchen. I now know I can stay at home.

RIO

Mrs Shaw from Lancaster

I had an interest-only mortgage with Birmingham Midshires. The mortgage had reached the end of its term, and they wanted the £127000 back I still owed them. My lifetime mortgage saved me from losing my home, and the rate was close to what I paid before.

RIO

Sophie G from Aberdeen

The financial advisor I’ve had for 25 years said I could save inheritance tax by getting £350,000 of equity release. The money was lent at a meagre interest rate, close to 2%, and competitive with regular mortgages you would get by providing income. I have saved a lot of tax.

RIO

William from London

My lawyer told me my inheritance tax bill would be around £250,000. I got a lifetime mortgage to give money to my son and daughter so they could buy bigger homes, and we bought a house in the south of France for us all to use as a holiday home.

RIO

Mrs M from Birmingham

With no broker fees and no lender fees, I got an interest-only retirement mortgage, which I pay each month from my private pension. The money released went to my daughter for her wedding and a deposit for her next house. She wanted a family, and her flat was too small.

  • Get your 1 minute no obligation quote
  • Please enter a number from 10000 to 25000000.
    Please enter a value between £10,000 and £25,000,000
  • Please enter a number from 50000 to 25000000.
    Please enter a value between £50,000 and £25,000,000
mortgage for over 70s

Challenging to mortgage property variants include rent charges properties with a high estate rentcharge, high service charges – properties where the Service Charge per annum at the time of application is more than 5.1% of the property value, some properties with sitting tenants or regulated tenancies, corrugated iron construction and missing planning permission or building regulations approval.

mortgages for 70 year olds

Tough-to-mortgage property variants include flats of less than 30 square metres in any location, properties with flying or creeping freehold which comprises 15% or less of the total floor area, grades l and ll* Listed Buildings in England & Wales (Grades A and B in Scotland; A, B+ and B1 in Northern Ireland), properties that have solar farms or a large number of wind turbines on the land and properties with mobile phone masts which are within influencing distance of the house.

mortgages for the over 70s

Challenging to finance property variants include timber framed properties built before 1920, properties with any externally applied insulation to the walls after construction, large concrete panel systems, freehold/feuhold flats (Scotland only) and basement or lower ground floor flats with level access to private or communal garden space.

mortgages over 70

Difficult-to-finance property types include properties in poor condition, properties where the ownership is set up on a tenancy in everyday basis, right to buy – properties in England, Wales and Northern Ireland, crofted houses and properties where the borrower(s) own the freehold with any connected party.

mortgages for over 70's

The popular LTV percentages of Standard Chartered interest-only lifetime mortgages for over-60s, Zurich mortgages for over 65, Churchill lifetime mortgages for over 55s, Coventry Building Society retirement mortgages for over 60, Nottingham Building Society later life mortgages for over 70s, and Progressive Building Society lifetime mortgages for over 55s are 50%, 60%, and 70%.

mortgages for pensioners

Common LTV percentages of LV= interest only lifetime mortgages for over 60s, More 2 Life equity release plans for people over 60, OneFamily mortgages for 60 year olds, Yorkshire Bank mortgages for people 60 plus, Metro Bank interest only mortgages for people over 60 and Axa mortgages for people over 50 are 50%, 55% and 65%.

70 years old

Popular loan to values of Lloyds later life interest only mortgages over 75, Barclays mortgages for over 70s, NatWest pensioner mortgages over 70s, L&G mortgages for pensioners over 60, RBS interest only mortgages for over 60s and Nationwide Building Society later life mortgages for over 70s are 50%, 55% and 65%.

  • Canada Life Lifetime Mortgage
  • L&G Legal & General Flexible Plus Lifetime Mortgage
  • Lloyds Bank Equity Release Plans
  • More to Life Capital Choice Plus Plan
  • Liverpool Victoria LV Equity Release Schemes
  • More to Life Capital Choice Plus Plan
  • Mortgages for 70 year olds
  • Nationwide Interest Only Lifetime Mortgage
  • Royal Bank of Scotland Equity Release Schemes
  • Saga home reversion plan
  • More to Life Tailored Choice Plan
  • Bridgewater Equity Release Schemes
  • Pure Retirement Lifetime Mortgage
  • More to Life Capital Choice Plus Plan
  • Saga home reversion schemes
  • Pure Retirement Equity Release Schemes
  • Stonehaven Equity Release

Equity Release percentages of your current property value

The more aged you are and the unhealthier you are, the more tax-free money you can release.

Examples of business owners with home equity to release with mortgages for 70 year olds

  • Cold rolling of narrow strip Woodstock
  • Repair of household appliances and home and garden equipment. Ripley
  • Extraction of salt Wetherby
  • Publishing of directories and mailing lists Congleton

Does the Post Office offer Equity Release?

Yes, Post Office Equity Release is 5.1% APRC. A pensioner’s mortgage can have terms as good as those of a younger person.

Areas of the UK where Mortgages for Pensioners over 70 are expected.

  • Hertford
  • Painswick
  • Totton and Eling
  • Brandon
  • Kirkham
  • Ludgershall
  • Stainforth
  • Exmouth
  • Newton-le-Willows
  • Sevenoaks
  • Stocksbridge
  • Barrow-in-Furness
  • Middlesbrough
  • Silsden
  • Macclesfield
  • Birchwood
  • Totton and Eling
  • Brentwood
  • Royal Leamington Spa
  • Surbiton

Does the Post Office offer Pensioner Mortgages?

Yes, Post Office Pensioner Mortgages are 5.1% APRC. Because pensioners’ incomes are stable, loans for people over 70 can be a good deal.

Equity Release percentages of your current property value – interest-only mortgage for pensioners

  • 50% monthly payment lifetime mortgage LV Liverpool Victoria
  • 40% LTV lump sum lifetime mortgages Optimum Credit pensioners mortgage
  • 30% loan to value lump sum lifetime mortgages Bank of China UK
  • 50% loan to value monthly payment equity release mortgage for an older person
  • 40% loan to value home reversion schemes West One mortgage for 70 year old
  • 30% loan to value (LTV) lifetime mortgage with flexible drawdown cash release Shawbrook

It is usual to discover people searching for lump sum lifetime mortgages, monthly payment lifetime mortgages or lifetime mortgages with compliant drawdown cash releases; however, the Telegraph, like Old Mutual Wealth, are keen to see proof of your situation in the form of bank statements.

Does the Post Office do Retirement Mortgages?

Yes, Post Office Retirement Mortgages are 2.03% APR.

Mortgages for pensioners over 70

To many lenders, those in their 70s with income represent a shallow risk. Because of this, they can offer very low rates, which offer the over-70 borrowers excellent value.

Hodge Lifetime Retirement Mortgages

More to life Mortgages

Does the Post Office offer Equity Release Under 55?

Yes, Post Office Equity Release Under 55 is 1.85% MER.

Pure Retirement Mortgages

Legal and General Retirement Mortgages

Providers for UK Equity Release to compare with mortgages for 70 year olds

  • Age Concern
  • Bridgewater
  • Age Concern
  • mortgages for 70 year olds
mortgages for 70 year olds

Disadvantages of Home Reversion Schemes and Mortgages for 70-year-olds

Lumpsum lifetime mortgages can reduce the inheritance for your family. Lumpsum lifetime mortgages may impact entitlements to benefits. You may need to pay a solicitor’s fee, and some products may expose you to changes in interest rates.

The 1st and 2nd charge lender will want to know if the property is a semi-detached freehold house or a Leasehold flat with a share of freehold and if the resident is an Owner owner-occupier primary Residence.

Mortgages for 70-year-olds and loans for over 70s UK

Because of the stability of a 70-year-old person, it’s easy for them to access some meagre rates and excellent terms.  Mortgages for 70 year olds can have rates under 5% APR.

Many of the most appealing retirement mortgage products are Lloyds equity release schemes, Barclays Bank retirement mortgages, Post Office retirement mortgages, Legal and General lifetime mortgages and Nationwide retirement mortgages.

Does the Post Office offer Lifetime Mortgages?

Yes, the Post Office does lifetime mortgages at 4.11% APRC. Post Office Lifetime Mortgages have a loan-to-value of 55%.

Can you get a mortgage if you are 70 years old?

Yes, nationwide mortgages for people over 70 are a great example and a good deal for many pensioners with good incomes.

Can a 70 year old get a mortgage in UK?

Yes, Santander mortgages for those over 70 are a great example, with low rates and no fees.

What is the oldest age you can get a mortgage?

Lloyds mortgages for those over 70s have no upper age limit. It would help to use the calculator for mortgages for people over 60.

Does Santander do mortgages for over 70s?

Yes, Santander retirement mortgages can be much better than roll-up equity releases.

Can I get a mortgage at 75 years old?

Yes, HSBC mortgages for people in their 70s are a good deal for UK pensioners with enough home equity.

Can I get a mortgage at age 78?

Yes, that is no problem as long as you have enough home equity.

Can you get a mortgage at 70 years of age?

Yes, getting a mortgage or remortgage at 70 is easy. A Halifax mortgage for people over 70 is a good deal for many people.

Can I get a 100% mortgage at 60?

Yes, subject to your income being the correct right level for the money you want to borrow.

Do lenders have a maximum age limit for mortgages?

Some lenders offer mortgages up to age 85, but other have no upper age limit.

Is it easy for a pensioner to get a mortgage?

Yes, as long as the pensioner has enough income and a good credit history it’s easy to get a mortgage.

mortgages for over 70s

Last updated: January 24, 2025 at 4:04 am

Updated: 16 day(s) ago

Today's date: February 9, 2025

Remaining days in the month: 19 day(s)

Property MetricValue
Equity Release Over 554.36%
Retirement Interest Only Mortgage (RIO) Income Required4.18%
Interest Only Lifetime Mortgages4.28%
Standard UK Residential Mortgage 2 Year Fixed4.09%
Standard UK Residential Mortgage 5 Year Fixed3.96%
Adverse Credit UK Residential Mortgage 2 Year Fixed4.81%
Adverse Credit UK Residential Mortgage 5 Year Fixed4.67%
Homeowner Loans6.31%
Bad Credit Secured Loans9.42%
Prime Car Finance4.33%
Bad Credit Car Finance7.34%
Average Number of Days for a House Sale to Complete76
Average UK House Price£290500
Average UK House Price Per Square Foot£264.09