Getting a mortgage over the age of 50 is more common than people often realise. Whether you’re moving home, remortgaging, or helping family onto the property ladder, there are options available that can work well beyond your 50s.

Lenders now take a more flexible view of age, especially when it comes to employment, income, and retirement planning. That means if you’re in your 50s and looking for a mortgage in Doncaster, there’s every chance you’ll find something that suits your circumstances.

What types of mortgages are available for the over 50s in Doncaster?

There’s no one-size-fits-all approach when it comes to getting a mortgage over 50 in Doncaster.

The type of mortgage that suits you will depend on your income, future plans, and whether you’re still working or already retired. Lenders now offer a range of products that reflect how people live and borrow later in life.

Standard Residential Mortgages

If you’re still in work or receiving a steady income, a standard repayment mortgage may still be available to you well into your 50s and beyond.

Some lenders have maximum age limits at the end of the mortgage term, while others are more flexible, especially if you can show that your income will continue into retirement.

Retirement Interest-Only (RIO) Mortgages

RIO mortgages are aimed at homeowners over 50 or 55 who want to borrow in later life but only pay the interest each month. The balance is repaid when the property is sold, usually after you pass away or move into long-term care.

These plans can be a useful option if you’re looking for lower monthly payments and want to stay in your home.

Equity Release Mortgages

For some homeowners in Doncaster, releasing money from their property through equity release may be a consideration.

This option is typically available from age 55 and doesn’t require monthly repayments. Instead, the interest is added to the loan, and the full amount is paid off when the home is eventually sold.

Remortgaging Options

Many over-50s choose to remortgage either to secure a better deal, release equity, or switch to a product that better suits their stage of life.

If you’re already a homeowner, reviewing your current mortgage can be a good way to manage your finances more effectively as you approach retirement.

Mortgage Eligibility For the Over 50s

Being over 50 doesn’t automatically limit your chances of getting a mortgage, but lenders will look more closely at how the mortgage will be repaid and what your income will look like in the years ahead.

Your age, employment status, and retirement plans can all influence what’s available.

Income & Employment

If you’re still working, most lenders will base their decision on your current income and how long you plan to stay in employment.

Some will lend up to retirement age, while others may accept income beyond that point if it’s supported by pensions or other ongoing earnings.

Retirement Income

For those already retired or nearing retirement, lenders will want to see evidence of pension income, investments, or other reliable sources of funds.

The amount you can borrow may be lower than someone in full-time work, but there are still options depending on your financial position.

Age at End of Term

One of the key factors is how old you’ll be when the mortgage ends.

Each lender has its own criteria, some will cap lending at age 70 or 75, while others may go up to 85 or even beyond, especially with certain types of mortgage designed for older borrowers.

Property & Loan Size

The type and value of the property can also affect eligibility.

Lenders will check whether the property meets their criteria, and they’ll look at how much you want to borrow against its current value. This applies whether you’re buying a new home or remortgaging your existing one.

How can a mortgage advisor help if I’m over 50?

Getting a mortgage over 50 in Doncaster can come with a few extra checks, especially around income and retirement. As a mortgage broker in Doncaster, we work with a wide range of lenders who offer flexible options for homeowners in this age group.

Our mortgage advisors look at your income, future plans, and what kind of mortgage would suit you best, whether that’s repayment, interest-only, or something more tailored to later life.

We’re here to make the process clear and straightforward, with advice that’s based on your needs and goals.

Date Last Edited: June 10, 2025