Later Life Mortgages

Richard Young is a later life lending specialist and has been helping people enjoy more of what they want to in their retirement for over 6 years.

There are a wide range of later-life mortgage options available:

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Older Borrower Mortgages

Lifetime Mortgages

Retirement Interest Only Mortgages

Older Borrower Mortgages

Older Borrowers

Some building societies understand why you would require a mortgage later in life and offer a loan term that could see you well into your 90s. As they are a standard mortgage in terms of structure, your home is at risk if you do not keep up repayments on them. Older Borrower mortgages can be used to help you repay an existing mortgage that is on interest only, borrow money to improve your current home, fund purchases or repay other debts. You can even use these mortgages to purchase other types of property too.

As long as your income is sufficient and will cover the mortgage repayments, then there will be a later-life mortgage to suit you. We’ll look into your monthly outgoings and current income to determine whether you are eligible.

Lifetime Mortgages​

A lifetime mortgage is a deal designed for the rest of your life. They are repayable when the last surviving party passes or enters long-term care. As a general rule, they mainly come with fixed rates, and whilst no payments are expected, you can make ad-hoc monthly repayments to reduce or maintain the balance.

Instead of basing the amount you can borrow on your finances, lifetime mortgages are based on your age and the value of your home. As the payments are optional, you can be sure that your home is never at risk if you do not wish to maintain them. You will retain full ownership of the property and can even protect a part of it by leaving it as an inheritance.

All lenders we use are members of the Equity Release Council, which put certain protections in place, such as the ability to make voluntary payments, downsizing protection and a no negative equity guarantee. Releasing a tax-free lump sum can affect certain means-tested benefits, so we’ll check the benefits you receive and explain the risks before recommending any later-life mortgages.

Lifetime Mortgages
Retirement Interest only Mortgages

Retirement Interest Only Mortgages

Retirement interest-only mortgages are relatively new mortgages offered by some building societies. They are designed to enable you to continue to have an interest-only mortgage for the rest of your life.

They are based on the ability to pay the interest from your current income and any pension income you may have. If you are a couple, the lenders will also ascertain what pension provision will pass between you in a worst-case scenario situation. As an interest-only mortgage, the amount borrowed always remains the same. Rates are either variable or fixed for several years whilst the mortgage term continues for life. This can see you remortgaging to other lenders during the life of your mortgage. If for any reason, you become unable to make the monthly payments, your home may be repossessed.​

Obtain The Mortgage You Deserve

To find out more, please get in touch, and we’ll discuss your later-life mortgage in more detail. Our discussions are free, and you are under no obligation to commit to a mortgage afterwards.

Later Life Lending Solutions

Richard Young is a professional mortgage adviser with over six years of experience helping lending customers get the later-life mortgages they deserve. As an older borrower, more mortgage products are available to you than anyone else. Contrary to popular belief, you can get a mortgage should you need one well into your 90s!

Why Not Get In Touch Today

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Later Life Lending Specialist

6+ Years of Industry Experience - At Jones & Young, we give you time to explore all of the options available to you and explain the differences between each type of mortgage. We encourage you to have someone with you that you trust with your finances.

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Our Reviews

"We contacted Richard at Jones & Young regarding a remortgage of our property to free up some of the equity. Richard was extremely knowledgeable and very helpful, in no time at all we had exactly the right product for our needs. I couldn’t recommend Richard enough and have already passed his details on to friends."
Neil Higgs
"Richard has been great, helped me understand each stage and explained it clearly. Responds quickly. Very happy indeed and would definitely recommend!
Sonia Hickman
"Professional and friendly, great service. Thank you for your help with my mortgage during a very challenging year."
Gemma Rahman
“I personally was very pleased and touched too, by your friendly, attentive and humorous attentions in helping me to get through the months of awfulness and achieve that Mortgage for Life which has transformed my life available. Impeccable service!"
Lindsay Redman

Building Your Brighter Future

Speak To Our Later Life Lending Specialist Today

We act as the bridge between you and the mortgage lenders that can help. This saves you time and the effort of speaking to multiple companies, and we can offer clear, objective advice about options for later-life mortgages. At Jones & Young, we’ll explore a range of options before you take out any loan secured on your home. We’ll discuss options to help you achieve your retirement goals and ensure you have the opportunity to have all your questions answered.

Trusted Advice

Clear and concise advice exploring the best life mortgage options for your needs.


Helping customers cut through the jargon so that they understand things their way.

Save Money

Taking a mortgage later in life can be costly if it isn't right. Our expert advisors will help you find the right mortgage to suit your budget.

Bespoke Rates

At Jones & Young, we have access to bespoke and exclusive interest rates that will save you money in the long term.

There is a range of options available to you in later life if you require a mortgage, whatever the reason. To understand the features and risks of any mortgage lending, ask for a personalised illustration

Money is always released tax-free and can be used for any legal purpose.
Common uses are to repay an interest-only mortgage, undertake home improvements, help a family or fund a large purchase such as a car, boat or property. These later-life mortgages can even be used for a regular monthly income, to fund a better lifestyle or to provide long-term care for your loved ones.

How many mortgages Jones and young have completed


Not quite sure which option would be best for you? Arrange a call so we can help find the right later-life mortgage for you.

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Your Trusted Team Of Experts

Mark Jones

Mark Jones is a professional mortgage adviser with over ten years of experience helping construction industry scheme workers get the mortgage they deserve.

Richard Young

Richard Young is an expert in helping older clients achieve better lifestyle options with the use of a lifetime mortgage and later life lending options.

Later Life Mortgage FAQs:

We’ve done our best to try and answer some of the most frequently asked questions about later-life mortgages below:

Later life mortgages are types of loans specifically designed for those aged 55 or over. They come in different types, such as retirement interest-only mortgage, a lifetime mortgage, and those specifically designed for older borrowers. Generally, they’re used to help release equity from their homes without moving, but they can also be used to purchase a new home. With some, you make standard repayments on your mortgage, and with others, you only pay interest. With these types of mortgages, you can borrow up to 75% of the value of your home, depending on your age and circumstances. The money can be used for whatever the borrower wishes, such as home improvements, gifting to family or friends, or funding a large purchase. There are no restrictions on how you use the money, so it’s a great way to access extra cash while still living in your own home.

It depends on your individual circumstances. The great thing about a lifetime mortgage is that it allows you to access cash from your home and use it for whatever you wish. However, because this type of loan is secured against your property, and if the interest repayments are compounded, it can reduce the value of your estate. We’ll help you to weigh all the pros and cons and explore other options before taking out a lifetime mortgage to ensure it’s the best decision for you.

Equity release mortgages, called lifetime mortgages, are loans that allow you to access the equity or wealth in your home. This type of loan is designed for homeowners aged over 55 and allows them to release equity from the home tax-free wither as a lump sum or as a drawdown facility. The money can then be used for whatever purpose you wish, such as repaying an interest-only mortgage, making some home improvements, making an expensive purchase, or helping supplement pension income.

Yes, just as with a normal mortgage, you can sell a property with a lifetime mortgage. Your later-life mortgage broker will provide details on this when you apply for one.

Yes, many people don’t realise that you can use a lifetime mortgage to purchase a property. This can be a great option if you are downsizing and want to arrange further access to your money or if your current equity doesn’t quite achieve the type of property you desire.