Mortgages for over 60's

Are you looking to borrow into retirement? Unlike the big banks we’ve been providing retirement mortgages to those aged 60 or over for many years.

The mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

Are you approaching or in retirement and looking at later life mortgage options?

People over 60 often find it difficult to extend their mortgage term with their current lender simply because of their age.

This is where we can help. Borrowing in retirement is our specialist subject.

We don’t believe in a ‘one size fits all’ approach and have helped many retirees remain in their home or downsize by allowing them to have a mortgage with us well into their retirement - we strive to help when other lenders can’t or won’t just because it’s too complicated.

I want to know more and speak to you


Our later life lending solutions

  • If you want to get a mortgage in your 60's, 70's or 80's we’ll always take the time to listen, it’s what we do.
  • We offer generous mortgage terms for older borrowers with a range of fixed and variable mortgages suitable for remortgage or purchase:
    • Owner Occupier repayment mortgages – up to a maximum age of 95 at the end of the term
    • Owner Occupier Interest-Only and Buy to Let mortgages – up to a maximum age of 89 when the loan commences.
  • We offer Retirement Interest-Only (RIO) mortgages, designed for those over aged 55 who are looking to stay in their home and avoid downsizing.
  • We may be able to help if you are looking do any of the following:
    • Assist family members onto the housing ladder
    • Purchase a property or second property for a holiday home or Buy to Let
    • Carry out home improvements
    • Looking for an alternative to Equity Release.
    • We will take the following income into account:
      • Earned income up to the age of 70
      • Sources of income up to and beyond 70 such as pension, investment and rental income evidenced on your Tax Returns (SA302).
      • Additional benefits
        • Free valuation on properties valued under £500,000
        • £500 cashback on completion for remortgages application

      How much could I borrow?

      See how much you could borrow for your later life mortgage.


      Arrange to speak to us about your later life mortgage requirements

      If you'd like to know more about our mortgages into retirement then please complete our short enquiry form and we'll be in touch within two working days.

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      Ready to speak to us now?

      03330 605 943

      Please quote reference: LLJuly22


      Monday to Friday 9am to 5.30pm

      Am I eligible for a later life mortgage?

      We provide mortgages to customers based on a range of criteria as we understand that everyone’s life circumstances and financial goals are different. Here are a few details you be should be aware of to check that you could be eligible for a later life mortgage with Family Building Society.

        A summary of our current lending terms which apply to our mortgage products can be found here 

        • Our minimum loan amount is £45,000
        • Our loans are subject to minimum accepted property value or purchase price (whichever is the lower) of £120,000
        • Maximum term we will lend up to is 40 years
        • Minimum term we offer is 5 years
        • We are unable to consider short term lending including bridging finance 
        • We accept residential properties in England and Wales either freehold or leasehold
        • We do not accept new build flats, studio flats, freehold flats and flats above a commercial premises (however these may be considered subject to certain conditions being met)
        • We can't consider ‘Holiday Lets’ on a Buy to Let basis
        • We do not accept Shared Ownership mortgages, property offered by housing associations 
        • We cannot lend on properties that are owned by a trust.
        • Earned income up to the age of 70
        • Sources of income up to and beyond 70 such as pension, investment and rental income evidenced on your Tax Returns (SA302)

        Later life mortgage case studies

        We have supported many customers in retirement. 

        David and Moyra, for example, wanted to relocate and move closer to their children. They were not aware their age would be a problem when finding a mortgage. Unlike the high street banks we were able to help. Read more.