Lending In Retirement Mortgages

For those who are looking for a mortgage but have retired or have semi-retired, the Society offers the following products detailed below.

Lending In Retirement Mortgages
Lending In Retirement

Applying for a mortgage in retirement does not have to be complicated.

The general population of the Great Britain is ageing, we are all living much longer and healthier lives. We have realised this change and adapted our lending policies to reflect these variations.

At Swansea Building Society, we understand there are lots of different reasons why you need a mortgage once you have retired. For instance, you may choose to release equity to finance a holiday home or provide your children and grandchildren a little support on to the property ladder.

Lending Into Retirement With SBS

When the term of your mortgage stretches past retirement age it is known as ‘lending into retirement.’

Regardless of how well you might have prepared for retirement, sometimes you need a little bit of help. Obtaining a mortgage later in life can be especially frustrating, which is the reason we at Swansea Building Society has mortgages available to house buyers / homeowners who are in a position to pay off the loan by age 85.

Can I have a mortgage if I am approaching retirement age?

We offer mortgages for house buyers / homeowners who need to lend into retirement.

For those looking to lend into retirement, we will evaluate your mortgage requirements beyond what is commonly identified as the "normal" retirement age (state pension age), as we can consider applicants that are able to pay off the loan by their 75th birthday.

We will consider for mortgages with a maximum loan-to-value (LTV) of 75%.

Can I have a mortgage if I am already retired?

Yes - We offer mortgages for house buyers / homeowners who have already retired /are semi-retired. We will consider you for a mortgage with a maximum LTV of 60% up to age 85 for the main applicant. You can explore your options with one of our mortgage advisors https://www.swansea-bs.co.uk/swansea-building-society-contact-mortgages

Can I have a mortgage on a pension?

Yes - paying back your mortgage with a pension is acceptable. Here at Swansea Building Society, we have a team of knowledgeable mortgage underwriters who understand the security of pension earnings. Because of this, we are in the position to consider mortgages for more mature borrowers, provided that you can afford the mortgage repayments and have a verified income. This could be either from your job, a private or work-related pension or on occasion a combination of both. We can also accept other forms of income as long as these can be evidenced.

What is the maximum age applying for a mortgage?

The minimum age of the eldest applicant is 84 and the borrowers need to have the ability to repay their mortgage by the 85th birthday of the main applicant. Please remember that your acceptance is subject to a detailed appraisal of your finances and credit history, to make sure you can afford the monthly payments.

Mortgage Interest Rates

(click on the mortgage product name for more information)

Residential Purchase/ Remortgage


Maximum Loan to Value of Property (LTV)

Variable Interest Rate

The overall cost for comparison is*

APRC based on a loan value of:

Lending in Retirement Mortgage (LIR24)

1.55% discount off Standard Variable Rate (SVR) for term of loan



6.20% APRC



Local Mortgage Manager

Please contact your local mortgage manager today for more information.

Alternatively, please complete the call me back page and one of our mortgage managers will contact you.

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