Mortgages for over 55s

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Why Choose Us
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5-star reviews on Google
years we have been as independent mortgage and protection brokers
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customer satisfaction for finding the best deals on the UK market
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Why Choose Ascot Mortgages

0 %
5-star reviews on Google
£ 0
total donated to various charities
years we have been as independent mortgage and protection brokers
0 %
customer satisfaction for finding the best deals on the UK market
What Our Clients Say About Us
5.0 Based on 141 reviews from review us onAshley Cox 1. ★★★★★ Would 100% recommend. Myself and my partner are currently going through the mortgage process as first time buyers. Natalia Barry has dealt with our application from day one. She has always been on hand to help, informative throughout and reliable when we have had questions. She has given us several options and broken them down into simple terms to help us. Natalia has truly been exceptional who deserves every bit of credit. We certainly got lucky having her as our first mortgage consultant.Dominik S. ★★★★★ Alison and the Ascot Team are excellent. I have used them for 5 years now and they deliver the most competitive mortgage deals fast. Just what I need. Thank you!Eric T. ★★★★★ We have dealt with Ascot Mortgages twice. Once for a mortgage about eleven years ago and recently for life insurance.In both cases we were treated with the utmost respect and professionalism.In the case of the life insurance application, we considered ourselves to be problem customers because of our age and numerous health issues.Richard Johnson, who managed this application couldn't have been more helpful.He worked in our best interest and was dedicated to providing an excellent service.We were kept up to date through all of the stages of the application and when our doctors were very slow in producing medical reports for the insurance company he persisted where others might have given up.The service we had from Richard was pleasant and professional throughout some difficult stages.My wife and I have no hesitation in recommending Ascot Mortgages.Zack R. ★★★★★ Having dealt with Ascot Mortgages and Alison for many years now I can say that you wont find a more professional, knowledgeable and efficient company to help with your mortgage. Alison is patient and makes the whole process seem easy. She has the answer to any question you have and seems to genuinely care. I can not recommend enough. I am sure I will be using Ascot Mortgages for years to come.Umair Z. ★★★★★ It has been a fantastic experience to work with both Phil and Jardelle at Ascot Mortgages to secure a mortgage product for my first home. Phil made the mortgage process smooth and easy. They are professionals and know what they are doing. Very pleased with the service and communication. would highly recommend them.Hello at NLP West M. ★★★★★ I needed a buy to let re-mortgage. Ascot were efficient from start to finish. I can recommend them completely especially because they can search the whole spectrum of mortgage lenders and meet the clients needs. never waiting for staff to get back and always kept me in the loop.Onohomen O. ★★★★★ ZHOU J. ★★★★★ It has been a brilliant experience to work with both Phil and Jardelle at Ascot Mortgages to secure a great mortgage product for our next home. Given how challenging the current market is, they have done a fantastic job to meet our needs with their expertise, professionalism and effectiveness. We would highly recommend their services to whom seeks help with their property purchase.Nicholas S. ★★★★★ Fantastic service. Ellie and Jardelle were always quick to reply to any queries and very helpful throughout the process. Highly recommend!Stacey S. ★★★★★ Jason was brilliant to work with! Always on top of the transaction! Would highly recommend 👍Scott ★★★★★ Although I've not bought anything yet, they (Jason in particular) have been super helpful in my search for the right mortgage deal, whilst also giving an honest opinion during these difficult times. Would highly recommend.Sandra I. ★★★★★ Fantastic from start to finish! Natalia and Jason found me the best rate for my remortgage and they were extremely efficient! Best service I’ve ever received from a brokerage company. Thanks so much.Virmantas N. ★★★★★ Amazing service and great communication. Ellie Morgan had quickly completed all requests and over delivered all expectations.Highly recommended for those who want to get the stuff done without any delays!David W. ★★★★★ I have used ascot for 3 renewals since they done helped me with my purchase which was complicated and will continue to use them going forward. Very fair prices and very helpful and knowledgeable even with just general information.Adam B. ★★★★★ Natalia made life very easy for us when remortgaging. Third time using ascot always a breezeTaff G. ★★★★★ Ascot Mortgages have been brilliant. Easy to work with and incredibly helpful. I am always happy to recommend them. Natalia and Jason have made the whole process much easier than I was expecting. Excellent service.Daryl L. ★★★★★ We've had a fantastic experience with Natalia Barry and Jason Jones at Ascot Mortgages for our property purchases and refinancing. Their expertise, coupled with genuine care and understanding of our needs, made the process smooth and stress-free.They were consistently communicative, keeping us informed at every step. Their assistance in consolidating our protection cover was invaluable, simplifying what could have been a complex process.What set them apart was their personal touch – always polite and ready to pick up the phone for a chat. This level of personal engagement is rare and much appreciated.In short, Natalia and Jason are not just skilled professionals but also truly dedicated to their clients. We highly recommend their services to anyone in need of mortgage advice.Sarah A. ★★★★★ I have used this firm for several years and they have always been super helpful and supportive, attentive and resolved issues in really useful ways. Shout out to Alison, Ellie and Jardelle (and the team!)Georgia W. ★★★★★ We worked with Ellie to secure our mortgage and protection, and she was a dream! Being a first time buyer, I was quite clueless about the process, and in a time where mortgage rates have been quite high, she worked right til the end to make sure we were getting our mortgage at the best possible rate and was always available to answer all questions I had. Can't recommend enough 🙂Richard D. ★★★★★ Laura S. ★★★★★ As a first time buyer, trying to navigate through potential mortgages was a very daunting thought. Ascot Mortgages were recommended to me and I've been extremely happy with the service provided. They have guided me through every step and I finally have a mortgage. Very pleased and would recommend.Lucy B. ★★★★★ Having Phil as my mortgage advisor was great from the very start! He is down to earth and speaking to him was always a pleasure. The kindness, compassion and support I have been given all the way through what can be a stressful process was immeasurable. Phil and Jardelle worked as a solid team and was able to make me feel at ease all the way through buying my first home. The team were always available and the communication between everyone was always clear and I felt safe in the hands of the company as a whole. Thank you for helping me buy my first home!Flora R. ★★★★★ I worked with Richard (Protection Adviser) for a couple of days to sort out life and critical illness insurance. Absolutely brilliant, he found me and my husband the perfect policy. Very knowledgeable and easy to get on, he definetely makes things easy to understand. Thank you for the great service provided.Matthew R. ★★★★★ I've dealt with Phil at Ascot Mortgages for a while now and Phil always comes back back to me with the right plan.Keep the good work up!rafal W. ★★★★★ I would thoroughly recommend Phil Greenwood at Ascot Mortgages ltd to anyone looking to seek advice on purchasing a home.Phil was absolutely fantastic. He made the process very smooth and easy and was always there to answer any questions I had.js_loader

Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:


Written by:

Alison Gibson

Ascot Mortgage Expert

Last Updated:


Securing a mortgage over 55 is not only possible but a practical choice for many. In this guide, we aim to shed light on the process, offering clear and straightforward insights. Whether you’re considering downsizing, moving, or simply looking to secure your financial future, understanding the details of mortgages for those over 55 is crucial in realising your property ambitions.

Understanding Over 55 Mortgages

Over 55 mortgage products are designed with the mature borrower in mind, taking into account not just your current financial situation but your future outlook as well. Like a fine wine that gets better with age, these mortgage options aim to offer flexibility and security to those in their golden years.

Eligibility and Requirements

To answer the question, “Can I get a mortgage at 55 years old?” the simple answer is, “Absolutely.” Lenders will look at your pension, income, and overall financial health to ensure you can comfortably meet monthly repayments without compromising your lifestyle.

Types of Mortgages Available for Over 55s

From traditional mortgages to innovative products like equity release schemes and lifetime mortgages, the market is brimming with options tailored to suit the needs of the mature borrower.

Navigating Interest Rates and Repayments

Interest rates and repayment plans for mortgages over 55 can vary widely, making it crucial to shop around and find a deal that aligns with your financial goals and retirement plans.

The Role of Pension, Income, and Credit

Your pension, other income sources, and credit history play a pivotal role in determining your mortgage eligibility and the terms you’ll be offered. It’s like piecing together a puzzle – each component is crucial to seeing the complete picture.

Equity Release: A Viable Option?

Equity release schemes allow you to tap into the value of your property, providing a lump sum or additional income stream while still allowing you to live in your home.

Lifetime Mortgages: A Closer Look

Lifetime mortgages offer a loan secured against your home, with the unique feature that repayment is not required until you pass away or move into long-term care, offering peace of mind and financial stability.

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Monthly Payments and Loan-to-Value Ratios

Understanding the relationship between monthly payments, interest rates, and loan-to-value ratios is essential for any borrower, but especially for those considering a mortgage later in life.

The Importance of Professional Advice

Seeking advice from a qualified mortgage advisor can provide clarity, ensuring you choose a product that best suits your needs and circumstances.

Preparing for the Application Process

Getting your documents in order, from proof of income to credit reports, is a crucial step in the mortgage application process, akin to laying the foundation for a house. For a mortgage application, gathering all necessary documents is crucial to laying a strong foundation for your application. Here’s a comprehensive list of what you might need:

  • Proof of Identity and Address: Typically requires a passport or driving licence for identification, along with recent utility bills or council tax statements as proof of address.
  • Proof of Income:
    • For employed individuals: the last three months’ payslips and the most recent P60 form. Some lenders may also request employment confirmation.
    • For self-employed individuals: the last two or three years’ SA302 tax returns and corresponding tax year overviews from HMRC, alongside business accounts.
  • Bank Statements: Usually, the last three to six months’ bank statements are needed to demonstrate regular income and expenditure.
  • Credit Report: A current credit report can help to assess your financial behaviour and creditworthiness.
  • Proof of Deposit: Evidence of your deposit, which could include savings account statements.
  • Existing Mortgage Statements: If you’re remortgaging or have other properties, current mortgage statements will be required.
  • Proof of Rental Income: If applicable, evidence of rental income from investment properties.
  • Expenditure Details: Information on your monthly spending, including loans, credit cards, and other financial commitments.
  • Life Insurance or Protection Policies: Documents related to existing life insurance or income protection policies, if available.
  • Gifted Deposit Letter: If part of your deposit is a gift, a letter from the giver stating that it’s not a loan and they have no interest in the property.

This list covers the primary documents needed for a mortgage application in the UK, but requirements can vary by lender. It’s always a good idea to check with us for any additional documents specific to your circumstances.

Impact on Inheritance and Estate Planning

Considering how your mortgage will affect your inheritance and estate plans is vital, ensuring your loved ones are taken care of after you’re gone.

Refinancing Options for Seniors

Refinancing can offer a way to secure better interest rates, reduce monthly payments, or access equity in your home, providing financial flexibility in retirement.

Checklist Before Signing on the Dotted Line

Before committing to a mortgage, it’s important to review all the terms, understand the fees involved, and consider the long-term impact on your finances.

Mortgage Calculator: Estimating Your Payments

Utilising a mortgage calculator can help you estimate your monthly payments, interest rates, and overall loan cost, giving you a clearer picture of what to expect.

Mortgage Repayment Calculator

Securing Your Future with Confidence

Securing a mortgage over 55 can open the door to financial stability and peace of mind during your retirement years. By understanding your options, preparing thoroughly, and seeking professional advice from mortgage advisers, you can navigate the mortgage maze with confidence and ease then.


Absolutely. Lenders offer a variety of mortgage products tailored to the needs of older borrowers.

Options include traditional mortgages, equity release schemes, and lifetime mortgages, each designed to meet different financial needs and circumstances.

Your pension and other income sources are critical in determining your eligibility and the terms of your mortgage, ensuring you can afford the repayments.

Yes, factors like retirement income, estate planning, and the impact on inheritance should be considered when choosing a mortgage product.

Using a mortgage calculator can give you a rough estimate of your monthly payments, interest rates, and loan cost based on the loan amount and terms.

By understanding the landscape of mortgages for those over 55, you can make informed decisions that align with your financial and lifestyle goals, ensuring a secure and comfortable future.

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