Am I eligible for a 50+ Mortgage?

In order to be eligible for one of our residential mortgages, you need to demonstrate that you can afford the loan. The property must also form suitable security for the loan.


As part of the application, we will ask for proof of income and outgoings. We will use the information to assess affordability.

If you are still working, we will need proof of their employed/self-employed income. Where the loan extends beyond the expected retirement date, you must benefit from a reasonable level of income in retirement in order to be eligible. The sources of retirement income we take into account include:

  • 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)

Repayment strategy

For the 50+ Mortgage, there must be a suitable strategy in place to repay the loan at the end of the term. Repayment strategies can be combined, but their total value must be sufficient to repay the loan. We accept a range of repayment strategies which include:

  • Sale of your home when you downsize to a more manageable property in later life
  • Sale of other property owned
  • Sale of investments
  • Proceeds of a maturing endowment policy.

For the RIO, we do not require a repayment strategy as a capital element of the loan is repaid on death or entry into long term care. Downsizing Protection is available for our RIO Fixed for Life product (please see our Product Summary for more details).

Property eligibility

The property must form a suitable security for the 50+ Mortgage. We accept a range of property types.

Type of property
  • Houses (freehold or leasehold)
  • Bungalows (freehold or leasehold)
  • Flats (leasehold)
  • Mainsonettes (leasehold)

There must be a minimum of 90 years unexpired term on your property’s lease.

If your property is a flat, it must be in a private block of 7 stories or fewer.

Construction method

Your property must be of standard traditional construction:

  • Walls – brick, stone or block
  • Roof – concrete, slate or stone tiles
Past events Your property must not have recently been affected by flooding, subsidence or other structural issues.

This is only a summary of our eligibility criteria. If you have any questions, please contact us and we will be happy to help you.

Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.