Can I get a mortgage at 54 years old?

Answered on 28 August 2018 by Nick Morrey

I am 54 years old and my wife 37 with good credit history and joint salary of £53000.  Could we get 20 year mortgage?

Mortgages at age 50+

The answer is yes, but only if you get a move on.  The majority of lenders will let you borrow up until before your 75th birthday which just gives you 20 years, although there are a couple who will consider a longer term.

What will lenders look at?

All the lenders will have to be satisfied that you will continue to be able to afford the mortgage once you retire and you are likely to be asked for evidence of any pension  or other income you will have.

I believe we can help you and that you would benefit from speaking to one of our independent mortgage advisers.  Please call 0344 346 3672 and we will then be able to help you find the right mortgage for your situation.

Answers provided in response to Ask the experts are based on the information provided and do not constitute advice under the Financial Services & Markets Act. They reflect the personal views of the authors and do not necessarily represent the views, positions, strategies or opinions of John Charcol. All comments are made in good faith, and John Charcol will not accept liability for them.

We recommend you seek professional advice with regard to any of these topics where appropriate.


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