50+ Residential Mortgages

Discover a residential mortgage created specifically for older borrowers. If you’re over the age of 50 and looking for a residential mortgage, this may be the solution for you.

Hodge residential mortgage for over 50s

We believe lending should be more flexible. Whether you’ve got an existing mortgage to switch from, want to minimise your monthly payments, or free up funds to make home improvements, our 50+ Residential Mortgage was created with older borrowers in mind. It means you can enjoy the financial freedom you deserve while approaching retirement.

What is a 50+ Residential Mortgage?

Our 50+ Residential mortgage is a mortgage with a set term for those aged over 50 and over designed to take your lending into retirement.

If you choose our interest only option, you will make just the interest payments each month and you will need to have a way to repay the mortgage at the end of the term. This could be through sale of property (main residence or second home) or cashing in investments or assets.

If you choose our repayment mortgage and make all of your payments, you will have repaid your mortgage in full at the end of the term.

Affording your mortgage

How much you can afford to repay each month is essential for any type of mortgage, we need to make sure the loan remains affordable for you not only today but also in the future.

To help you access the amount you can borrow we will look at both your current and future income to find a solution that reflects your individual circumstances.

Each case is reviewed by an experienced member of the Mortgages team. Everyone you speak to has a thorough understanding of both working and retirement income and you can be sure they’ll take a common-sense approach to each case.

Examples of the types of income we will consider are:

  • Income from employment or self-employment
  • Working income up to age 80 where plausible.
  • State, personal and company pensions, whether in payment or not
  • A sliding % of your pension pot based on the age you plan to draw it down.
  • Investment income
  • Rental income

We recommend discussing your options with a financial adviser before deciding which one suits your financial position best. 

The benefits of mortgages for over 50s

You get a financial solution catered for your particular life stage

Most mortgages for over 50s have been created to help people over 50, who are working towards retirement, to live comfortably and be in a position to afford the monthly payments.

You get to keep equity in your home

Our 50+ Residential Mortgage lets you to keep the equity in your home.

A loan term to suit your individual circumstances

Our 50+ Residential Mortgage is designed so you can enjoy financial freedom.

Take advantage of our Early Repayment Promise

The Hodge Early Repayment Promise gives you peace of mind, knowing if something happens which means you need to sell your property and move out, you won’t be penalised by early repayment charges – giving you one less thing to worry about.

Find out more

Is 50+ Residential Mortgage right for me?

Our 50+ residential mortgage is specifically designed for people over the age of 50 who find mainstream mortgages either unsuitable for their particular needs, or not applicable due to age limitations. If you’re over 50 and interested in getting a new mortgage on your main residence, here are the eligibility criteria we consider.

Mortgages for over 50s: eligibility and criteria

How much you can afford to repay each month is essential for any type of mortgage loan, but it’s even more important when it comes to our 50+ residential mortgage. Considering the full amount borrowed is due to be paid at the end of the mortgage term, we need to make sure the loan remains affordable for you not only today, but also in the future. We’ll take a number of sources of income into account to make sure you can afford the loan, including:

  • Pension income or future entitlements 
  • Investment income 
  • Rental income 
  • Commercial rental income 
  • Ltd company residential rental income 
  • Holiday rental income 
  • Spousal/maintenance income 
  • Sub-contractor income 
  • Some benefits (see your financial adviser or mortgage broker for more information on what we will and won’t accept) 

A financial adviser will be able to assess if this is the right financial solution for you. It’s important to get advice from one before making up your mind.

Find a mortgage adviser with Unbiased

We don’t offer 50+ mortgages directly to the public. It’s a big decision, and you’ll need to speak to a financial adviser to make sure it’s the right one for you. If you don’t already have an adviser, you can start your search, using unbiased.co.uk.

Find a broker

FAQs about mortgages for over 50s

You can repay the loan at any time, but you might incur early repayment charges if you do – depending on the circumstances.  

We try to be as flexible as we can, and we understand that things don’t always go to plan. That’s why we’ve created our Hodge Early Repayment Promise, meaning you won’t have to pay any early repayment charges if you move out of your home, and pay the mortgage off in full.  

Hodge is a responsible mortgage lender, so if your circumstances change then please contact us to find out the best way forward.  

Our mortgages for over 50s are portable, which means they can be transferred with a house move if you wish to move or downsizeAs the borrower, you’ll be responsible for the cost of transferring your mortgage, and your new home must form suitable security for the loan.  

Making your monthly repayments could impact future income levels needed to fund retirement. We encourage you to discuss retirement plans with your financial adviser to make sure you can accommodate any changes to circumstances.

If your marital status changes, we can accommodate this too.

We review the SVR regularly. The SVR may change to reflect changes in the Bank of England base rate or changes to our funding or administration costs, economic effects and the impact of new laws or regulations. If there are changes, we’ll provide you with reasonable notice of what’s changing and how it may affect you. 

Borrowing up to 85% LTV is available on repayment or 75% on interest only subject to affordability. The minimum loan size is £20,000 and maximum is £2m for interest only and £850k for repayment. We want to make sure the 50+ residential mortgage remains affordable now and in the future. This is why we base the final amount we’ll lend on your ability to afford the loan. This includes your employment income (including self-employed) and retirement income that’s currently being paid, or forecast to be paid upon retirement. We’ll also look at outgoings including any loans or financial commitments already in place. 

For the interest only mortgage option, it’s essential for the repayment strategy to offer you sufficient funds to repay the loan at the end of the term. This is why consulting with a financial adviser is important before deciding which mortgage product is best for your financial situation.

You can take out our 50+ mortgage either solely, or with someone else. We look at a wide range of income types (like pension, investments, and rental), and your adviser will be able to help you work out the best course of action. We look at all applications on a case by case basis, and try to be as flexible as we can.  

Yes. All of our mortgages are only available through Mortgages Advisers. If you don’t have an adviser, you can use unbiased.co.uk to start your search. 


Our 50+ mortgage can be interest only or repayment and has a defined end date. The retirement interest only (RIO) mortgage is interest only and will run until you (or the last borrower) goes into long term care or passes away. With our interest only options, you pay the interest as you go. Find our more about the RIO mortgage here.

You can choose a repayment mortgage or interest only for the 50+. Repayment means your monthly repayments cover the interest and the amount you’ve borrowed. At the end of the term you won’t owe anything.

For 50+ interest only a repayment strategy is required for when your mortgage ends. As long as you’ve kept up with your payments, the final amount you owe us will always be the same as the amount you initially borrowed, regardless of whether your home goes up or down in value.

If you’re interested in finding out more about our 50+ residential mortgage, then the first step is to speak to a financial adviser – they can help find out how much you can afford to borrow and if you’re eligible to get a mortgage.

If you’re over 50 and looking to get a mortgage, the first step is to speak to a financial adviser. They can help you understand the amount you’re able to borrow.


50+ Residential Mortgage Customer Guide

Residential Mortgage Terms & Conditions

Tariff of Mortgage Charges


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