Mortgages for over 50s.
Mortgages for people over 50.
It’s very common for those in their fifties to still have a mortgage. Perhaps you want to change your repayment type? Or maybe you’re considering raising funds for some home improvements, or to help your children onto the property ladder? This might be as a remortgage from another lender, raising further funds against your home (whether it currently has a mortgage or not), or even as part of a home move.
Whatever your circumstances, we’re here to help. Our underwriting team review every application individually.
More flexibility for older borrowers.
There are far more options than there used to be when it comes to mortgages for over 50s, whether you’re already retired or want your mortgage to continue into retirement. We even offer up to 80% loan to value for applicants borrowing into retirement, and up to 70% for those already in retirement.
All of our standard range of mortgages are available, whatever your age. That includes residential, expat, buy to let, self build, and holiday let products. And at the same rate as everyone else!
We also allow our older borrowers to use multiple income sources. These include earned income, pension income, self-employed, rental income, and uncrystallised assets, like investment and pension pots. You don’t have to be drawing a pension for us to look at it for affordability.
You can compare different types of mortgage products using our mortgage finder.
What type of later life borrower are you?
Many of our older borrowers are looking to free up equity to fund gifted deposits for younger family members. Others are switching lenders or mortgage types. Perhaps you’re looking for a mortgage following a change of circumstances, such as following a divorce? Or you might even be looking to buy a buy to let or holiday let home?
We have a wide range of options for you, and we offer capital and interest, interest only, or part and part.
Have a chat with us about some features that might be available to you:
- Potentially no maximum age at the end of the term
- Multiple income sources accepted
- Up to a 40 year term available
- Borrowing for: home moves, home improvements, second home purchase or gifting to help children onto the property ladder.
Building relationships
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We took out a mortgage on our house to help children get on the property ladder and have found Ipswich now Suffolk Building Society a friendly, professional and human organisation – just like building societies and banks used to be but so few are these days. A great team of people.
Mortgage member via
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I have always found it very easy to contact Suffolk Building society by phone, or by email or on line, and the staff are always friendly, knowledgeable, helpful and efficient. For me, this is the most important feature of a good building society.
Mortgage member via
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Find the right mortgage product for you.
Enquiries
We have conversations, not algorithms.
Our decisions are made by experts, not computers. We need to calculate the financials, but we understand there’s more behind a mortgage than the numbers on a page. We can’t promise to lend to everyone and anyone, but we’ll consider most applications on an individual basis.
Ready to go? We’d love to hear from you. Get in touch with our friendly and knowledgeable team.
Prefer to talk?
Call 0330 123 0723
From Our Blog
Mortgage news.
Our blog contains the latest goings-on and updates across the Society, so here’s where you can check out our latest mortgage news.
Or, if you want to see more than just mortgages, take a look at all of our blogs.
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