Yes, you can get a mortgage over the age of 70.
Whether you’re looking to remortgage in Grimsby or purchase a new property, there are lenders offering mortgage products tailored to your age and financial circumstances.
While there’s no legal maximum age for mortgage lending, the options available to you in Grimsby will depend on the lender’s criteria and your ability to meet affordability requirements.
Whether you’re in your 50s, 60s, 70s or beyond, there are purchase and remortgage deals that extend well into retirement.
These may include traditional repayment products, retirement interest-only mortgages, or even a lifetime mortgage in Grimsby for those seeking flexibility with payments.
Income and Affordability
Your income will play a major role in determining which mortgage product is right for you. This includes any ongoing employment, private pensions, state pension, or investment income.
If you have a strong income and can comfortably afford repayments, you’ll find a wider range of standard mortgage products available.
These often include repayment or interest-only options, depending on your lender’s criteria.
For homeowners who are equity rich but have limited income, a lifetime mortgage in Grimsby may provide a suitable alternative.
Some products also allow voluntary payments, helping to reduce interest without committing to regular monthly repayments.
Deposit or Equity Position
Your deposit size or the equity you hold in your current property will influence how much you can borrow. The larger the deposit, the lower the risk to the lender, which could help secure a more competitive deal.
If you’re purchasing a new home in Grimsby, a higher deposit gives you access to a broader range of over 70s mortgage options.
For those exploring equity release, you’ll need to demonstrate sufficient equity to meet the lender’s minimum loan requirements.
Joint or Sole Mortgages
Mortgages over 70 are available in sole or joint names. If you’re applying with a partner, your joint affordability will be taken into account, both now and in future years.
If both applicants have reliable pension income, a retirement interest-only mortgage in Grimsby may be suitable. If not, an interest-only lifetime mortgage may offer more flexibility.
In either case, our mortgage advisors in Grimsby will assess your circumstances and explain the most suitable route.
Life Insurance Considerations
Although not a requirement, many applicants over 70 choose to look at life insurance during the mortgage process.
This can offer added peace of mind by ensuring that any outstanding mortgage balance is covered, helping protect your home and your loved ones in Grimsby.
Even partial life cover can be beneficial, as it gives surviving partners more time and flexibility when dealing with finances.
Poor Credit History
If you’ve had credit issues in the past, it may still be possible to get a mortgage over 70. Lenders will consider your current credit score and the details of any adverse history.
Common issues like missed payments, defaults or county court judgements can sometimes be worked around, especially if you have a large deposit or a strong equity position.
Our mortgage advisors in Grimsby can obtain a copy of your credit report and go through your available options with you.
Mortgages Over 70 in Grimsby
Whether you’re downsizing, relocating, or unlocking property wealth, there are various mortgage options available for those over 70 in Grimsby.
You may be surprised by how many flexible solutions exist, particularly for those with strong equity or pension income.
Our mortgage advisors will take the time to understand your full financial picture and recommend a product that suits your plans.
Whether you’re exploring a traditional mortgage, retirement interest-only mortgage, or a lifetime mortgage in Grimsby, we’re here to help.
Date Last Edited: June 9, 2025
