--- title: "Later life mortgages | Pensions Advice UK" url: https://pensionsadviceuk.com/later-life-mortgages/ description: "Mortgage still running when you retire? Interest-only ending? We can put you in touch with our mortgage partners, regulated mortgage brokers." last_updated: 2026-11-10 publisher: "Pensions Advice UK (a trading name of GAP-GNX Ltd)" language: en-GB --- Later life mortgages # Will your mortgage be paid off when you retire? Lots of people are still paying a mortgage in their late 50s and 60s. If yours is interest-only, or runs past the age you want to stop work, it's worth talking it through sooner rather than later. - Regulated mortgage brokers - About 2 minutes - Your details stay secure We don't arrange mortgages ourselves. When you get in touch, we pass your details to one of the mortgage brokers we work with, and they take it from there, right through to completion. ## Sound familiar? - Your interest-only mortgage is ending and you're not sure how you'll pay it off - Your mortgage runs past the age you plan to retire - You're worried about keeping up payments once your income drops - You'd like to remortgage, or borrow a bit more, later in life The earlier you look at it, the more choice you're likely to have. ## What the options might be It depends on your age, your income, your home and what you'd like to happen to it. A broker will go through it all with you, but the main options tend to be: - **Remortgaging**, possibly over a longer term that fits your retirement income. - **A retirement interest-only mortgage.** You pay the interest each month, and the loan is usually paid off when the home is sold, for example after you die or move into long-term care. - **A lifetime mortgage**, which is a type of equity release. You borrow against your home, and the loan plus interest is usually repaid in the same way. ## Could your home help your family buy theirs? Some people use the value tied up in their home to help children or grandchildren with a deposit. There's more than one way to do it, and each has costs and risks. Borrowing against your home can mean leaving less behind, and it can affect means-tested benefits. A broker can talk it through with you and help you work out whether it makes sense. ## How it works 1. **Fill in a short form.** It only asks a few questions. 2. **A broker gives you a call.** They'll want to understand your situation, and they'll tell you upfront how they're paid and whether there's a fee. 3. **If you want to go ahead, they do the legwork.** The advice, the application and getting it over the line are all handled by them. ## Questions ### Am I too old to get a mortgage? Not necessarily. Every lender sets its own age limits, and some will lend well into retirement. A broker will know which ones might consider you. ### Do you give mortgage advice yourselves? No. We're not authorised by the Financial Conduct Authority, so we can't. Any advice you get comes from the broker. ### Does it cost anything to get in touch? No. If the broker charges a fee, they'll tell you before you agree to anything. ### Do you get paid for this? Yes. If you take out a mortgage through one of our mortgage partners, we get a share of the fee the lender pays them. ### What happens to my details? We keep a record of your enquiry and pass your details to the broker so they can contact you. Our [privacy policy](https://pensionsadviceuk.com/privacy-policy/) has the full details. ### Important information **Your home may be repossessed if you do not keep up repayments on your mortgage.** A lifetime mortgage is a loan secured against your home. It will reduce the value of your estate and may affect your entitlement to means-tested benefits. Pensions Advice UK is a trading name of GAP-GNX Ltd. We are not authorised by the Financial Conduct Authority and we do not provide mortgage, financial, investment, pension or tax advice. We act solely as an introducer. If you make a mortgage enquiry, we pass your details to one of our mortgage partners. Any advice or regulated service is provided by our mortgage partners, not by Pensions Advice UK. If you take out a mortgage through them, we receive a share of the fee they are paid by the lender. Our mortgage partners include My Simple Mortgage, a trading name of My Simple Mortgage Ltd, registered in England and Wales (company number 09275345), registered office The Mount, Etruria Road, Newcastle-under-Lyme, Staffordshire, ST5 0SU. My Simple Mortgage Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. FCA reference number 682703. You can check this on the [FCA Register](https://pensionsadviceuk.com/check-an-adviser/). The information on this page is general information only and is not a personal recommendation. ## Speak to a broker Fill in a short form and one of our mortgage partners will call you. It's free, and they'll tell you about any fee before you go ahead. Get started ## Buying your first home? [Mortgages for first-time buyers](https://pensionsadviceuk.com/first-home-mortgages/) ## Deal ending soon? [Remortgaging](https://pensionsadviceuk.com/remortgage/) --- Pensions Advice UK (a trading name of GAP-GNX Ltd) connects UK residents with FCA-authorised pension advisers and pension tracing services. It is not FCA-authorised and does not give financial or tax advice. It acts solely as an introducer to FCA-authorised firms, who provide any advice and explain any fees before you proceed. This is the text version of https://pensionsadviceuk.com/later-life-mortgages/. More pages: https://pensionsadviceuk.com/llms.txt