Is it too late to buy a house and get a mortgage over the age of 50?

Buying a house after 50 is more common than ever. Lenders provide a range of mortgage products that cater specifically to older borrowers, focusing on affordability and manageable repayment terms. Whether you’re downsizing or investing, there are options available to suit your goals. For expert mortgage advice in Middlesbrough, work with a knowledgeable mortgage broker who can guide you through the process and find the right solution.

Can I get a buy to let if I'm over the age of 50?

If you’re over 50 in Middlesbrough, securing a buy to let mortgage is possible. Lenders focus on the property’s rental income and ensure it exceeds the mortgage repayments. They also consider your financial situation and long-term plans for the property. As a trusted mortgage broker in Middlesbrough, we can help you navigate the buy to let process and find the most suitable product for your needs.

How much can I borrow for an over 50s mortgage?

For over-50s mortgages in Middlesbrough, borrowing amounts are typically determined by your income, expenses, and the lender’s affordability checks. Term lengths may be shorter due to age, but strong financial circumstances, including pension income, can support higher borrowing amounts. To understand your options, consult a mortgage broker in Middlesbrough for expert advice tailored to your situation.

How does my age affect my mortgage eligibility?

Lenders consider age when determining mortgage eligibility, often limiting the term length and requiring proof of retirement income. Your overall financial profile will play a significant role in ensuring you meet affordability criteria. Speak with a mortgage broker in Middlesbrough for tailored advice on how your age affects your options.

Mortgages for Over 50s in Middlesbrough

Can I get a mortgage if I'm aged over 50 in Middlesbrough?

Individuals aged over 50 in Middlesbrough often have questions about their mortgage options and here are the key areas where we can help:

Remortgage
Property Purchase
Capital Raising
Complex Situations

With a mortgage broker in Middlesbrough by your side, navigating your options becomes a straightforward process.

The Types of Mortgages for Over 50s in Middlesbrough

If you’re over 50 and live in Middlesbrough, here are five main mortgage options:

Capital Repayment Mortgages
Interest-Only Mortgages
Hybrid Mortgages
Retirement Interest Only Mortgages (RIOs)
Equity Release Mortgages

As a trusted mortgage broker in Middlesbrough, we provide expert mortgage advice in Middlesbrough to help you identify the most suitable option for your circumstances.

What is the maximum age when getting a mortgage over 50 in Middlesbrough?

For over-50s in Middlesbrough, lenders usually set an upper age limit of 70 to 85 years at the end of the mortgage term.

This ensures older borrowers can still secure a mortgage if they meet affordability requirements.

Our expert mortgage advisors in Middlesbrough are here to help you understand your options and find the right solution for your financial needs.

Speak to an Advisor

Important information

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

There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £995.

You should always think carefully before securing a loan against your property.

A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.

Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.

Mortgages for Over 50s FAQs

Our Customers Love Us

5.00 Rating13 Reviews

Thuthu

Thanks so much for your great job and excellent service thanks so much your team has been amazing 😻 Regards Thuthu and Christian

4 months ago

Thuthu

Thanks so much for your great advice and your excellent service 😃😃

4 months ago

Anonymous

I am very happy with Middlesbroughmoneyman helped me understand and explain everything with no problem at all

8 months ago

Mr Jamie

I would highly recommend this company. They’ve been a massive help. With the mortgage process talking through step-by-step and Couldn’t thank Malcolm, and Amy from the team Enough with the service that they provided is five star in my rating

1 year ago

Miss Laura

Malcolm has been amazing from start to finish! He has made this process so much easier and helped us every step of the way. His knowledge and patience is outstanding and I would highly recommend him and his team! Thank you again, we really can’t...

1 year ago

Claire

Moneyman has been a life changer for us. We would not be able to start on the property ladder if it weren't for Debbie and Matt. Matt has helped us through the stress of buying a house in this climate and they have both been nothing but supportive...

2 years ago

Jack

Excellent service! takes away a lot of the stress involved and if you're as clueless as I am these guys are a godsend.

3 years ago

Tania

Excellent service! Could not recommend Moneyman enough. Matt and Molly were always available to answer queries, constantly chased up on our progress and kept us informed of the process the whole way through. Thank you!

3 years ago

Olivia

I cannot thank Tom and his team enough. Tom, Stacey, Kerry, and Kayleigh were so helpful in providing a service that was above and beyond what we expected. They were always happy to answer any questions (even when I asked a million). Even before...

4 years ago

Edward

I’ve got to say I’m over the moon after contacting Middlesboroughmoneyman, they assigned me my own mortgage Advisor called Nathan and him and Laura from his team walked me through every step of the way. Here i am 39 years old and 40 in a couple...

5 years ago

Morgan

Kayleigh, Malcolm and the team made the whole process a very pleasant experience. I would highly recommend them to anyone looking for a mortgage broker who provided a great service with reassurance and advice along the way.

6 years ago

Michael

Responsive from the first point of contact (I received a call within minutes of making an online enquiry) I wouldn't hesitate to recommend these guys. You will deal with a few different people through the process but it works really well, they are...

6 years ago

Jonathan

fantastic service, would recommend to anyone looking for help with getting a mortgage. Both chris and mel have been excellent and have always been there at the end of the phone, text or email to answer our questions. thank you to both very much.

6 years ago

Our Simple Mortgage Process

Free Initial Mortgage Appointment

We offer a free initial mortgage appointment in Middlesbrough to help you explore your options with confidence. Our mortgage brokers in Middlesbrough will take the time to understand your financial goals and explain the solutions available to you.

Alternatives to Later Life Lending

Later-life lending is not always the only option. We’ll carefully assess alternatives such as equity release, savings, or family support strategies to ensure you choose the right path for your needs.

Discuss With Family / Trusted Parties

We recommend discussing your options with trusted individuals before making a decision. Our mortgage advisors in Middlesbrough can facilitate these conversations, ensuring you and your loved ones have a clear understanding of your choice.

Tailored Lifetime Mortgage Recommendation

If a lifetime mortgage is the most suitable solution for your circumstances, we’ll provide a tailored recommendation. As a trusted mortgage broker in Middlesbrough, we’ll help you create a plan that supports your financial stability and goals.

Reasons to Choose Us

Free Initial Mortgage Appointment

Start your journey with a free initial mortgage appointment in Middlesbrough. Our experienced mortgage brokers in Middlesbrough will assess your needs and help you find the most suitable mortgage option for your circumstances.

Search 1000s of Deals

As part of our service, we search thousands of mortgage products from a wide range of lenders to secure the most suitable deal for you. With our expertise as a mortgage broker in Middlesbrough, you’re in safe hands.

Our Service

We’re proud to offer exceptional service to all our clients in Middlesbrough. From initial advice to completing your application, our mortgage advisors are here to ensure the process is as smooth and straightforward as possible.

7 Days a Week

Our team is available 7 days a week to provide expert mortgage advice in Middlesbrough. Whether you need an appointment during the week or at the weekend, we’re here to support you.