Mortgages for over 60s.
Mortgages for people over 60.
We understand that there are many reasons why someone could be seeking a mortgage over the age of 60. Perhaps they want to stay in the family home, release equity to make improvements, or help children get through university, or get onto the housing ladder.
We help customers who are approaching retirement, looking to borrow into retirement, or those already in retirement who simply want to continue with their current mortgage.
Our underwriting team review every application individually. So, whatever your situation, we’re here to help.
Giving older borrowers more flexibility.
Over 60s have a broader range of mortgage options open to them today than they have in the past. We offer up to 80% loan to value for applicants borrowing into retirement, and up to 70% for those already in retirement.
Our full range of standard mortgage products are available, whatever your age. This includes residential, expat, buy to let, self build, and holiday let products. We also offer them to older borrowers at the same rate as everyone else!
Older borrowers can use multiple income sources for affordability. These may include:
- Earned income
- Pension income
- Self-employed income
- Rental income
- Uncrystallised assets, like investment and pension pots. You don’t have to be drawing a pension for us to consider it for affordability.
You can compare different types of mortgage products using our mortgage finder.
What type of later life borrower are you?
Older borrowers may want to:
- Free up equity to fund gifted deposits for family members
- Switch lenders or mortgage types
- Get a mortgage following a change of circumstances
- Purchase a buy to let or holiday let home.
We have a wide range of options, including capital and interest, interest only, or part and part.
Talk to us about some of the 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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