50+ Residential Mortgages

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

At Hodge, 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 for your home, with a set term duration, for customers aged 50+. Where you opt for interest only on the 50+ mortgage you’ll make interest payments monthly. There must be sufficient means 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.

Where you opt for a repayment mortgage and make all of your payments, you’ll have repaid your mortgage at the end of the term.

How much you can afford to repay each month is essential for any type of mortgage loan, 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 in assessing your ability to afford the loan, including:
  • Sale of your property when you downsize.
  • Sale of other property that you own. 
  • Sale or maturity of your investments, including any endowments or lump-sums you’re entitled to when taking your pension. 

You can choose one, or a combination, of the repayment options aboveMake sure you discuss your options with a financial adviser before deciding which one suits your financial position better. 

Benefits: at a glance

You get a financial solution catered for your particular life stage

You get to keep equity in your home

You can choose the loan term you’re comfortable with

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.

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Is 50+ Residential Mortgage right for me?

This 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 a new mortgage on your main residence, here are the eligibility criteria we take into consideration.


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 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 in assessing your ability to afford the loan, including:

  • Income from employment or self-employment
  • State, personal and company pensions, whether in payment or not
  • Investment income
  • Rental income.

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

Find an 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 advisor 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

Frequently Asked Questions

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 lender, so if your circumstances change then please contact us to find out the best way forward.  

Our 50+ Mortgages 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 payments 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  marital status changes too, 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 £1.5m for interest only and £750k 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 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 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.

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.


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