4.12% APR Best Mortgages for over 60s – Free Valuation – Updated January 2025

Find out if Britannia Home Finance is right for you in 2025. More and more people are looking for the best interest-only mortgages for over 60s, as many people have mortgages that are due to expire that they can’t repay in full.

• Britannia Home Finance direct mortgage lender
• Buy a property or refinance your existing home – Mortgages for over 60s for 2025
• Release equity from your home at 4.12% APR Fixed
• Use the money for anything you like
• No early repayment charges
• Free Valuation when you apply for a mortgage over 60
• Lender not featured on the comparison sites

Please complete the form below for the free no-obligation home valuation and in-principal offer.

Mortgage Market Review

William from Birmingham

My son knew a guy who owned six pubs. Because of successive lockdowns due to covid 19 coronavirus, he had to make a quick sale on his holiday home in Cornwall.

My equity release money bought his flat at 35% under market value. Not only does my family have the shared use of a holiday home, but the rental income is also much more than the interest on the equity release.

I believe mortgages for over 60s are great value with no age limit and low mortgage payments.  Some different lenders had much higher rates, but I got a better deal.

Mrs Heart from Aberdeen – a great mortgage deal

I was struggling to pay my mortgage and had no money left for emergencies at the end of the month, let alone saving for a holiday.

I had investigated home reversion plans, but they did not appear to be the right solution.

Equity Release for older borrowers with no monthly repayments was precisely what I wanted, and the interest rate was very low. I was able to pay off my mortgage.

I live in an area where house prices are going up nicely, so it’s wise to keep 100% ownership of my own home. I am confident that my house price appreciation will be much bigger than my roll-up interest.

Mr Shaw from Bradford – retirement interest only mortgage deals

I thought I would have to sell my home to repay my mortgage as the bank wanted their money back. With the money left, I could only afford a flat, and I would have been further away from my daughter and her children. Downsizing was a bad idea for me.

My lifetime mortgage was ideal for me as I had no monthly repayments, and I paid off my old mortgage.

I saved the cost of moving to a new flat, which I would have paid to move to a place I did not want.

The no negative equity guarantee and equity release council assurances were fundamental to me. I am better off each month and have some tax-free cash ready if repairs to the house are necessary.

Mrs Yardly from Sheffield – other lenders were expensive!

I had an old, tired car and an unreliable central heating system. Repair bills continually mounted, leaving me with less money for holidays and other lovely things.

A friend said I should consider equity release, but I was put off by the horror stories of the roll-up/compounded interest destroying people’s homes.

When I did my homework, I found that in 2025, equity release interest rates were meagre, and the negative press was around people who had been ripped off with high rates.

Even if my house price only increased slightly, the roll-up interest would be covered. The equity release enabled me to get a nice 3-year-old car and a new boiler, so I was not wasting money on repairs all the time!

Mr Howarth from Leeds – I got great borrowing options from Frequent Finance.

I am healthy and have a good income from my pensions for later life. I decided to release money from my unencumbered home with a retirement interest-only mortgage (RIO mortgage) so I could get a new kitchen and bathroom and give money to my children so they could move house and buy bigger homes.

I had no problems with a minimum or maximum age requirement or affordability.

The interest rate was very low, like a prime conventional mortgage from a bank or building society. The monthly payment was tiny compared with the rest of my outgoings. The whole process was authorized and regulated by the finance conduct authority.  Later-life mortgages use your pension income, similar to a traditional mortgage.  To improve your chances of getting the best option at the age of 60, you should learn top tips from a broker with a good option profile.

Does TSB offer an Equity Release product?

Yes, TSB Equity Release is 4.83% APR. mortgages for over 60s UK

Does TSB offer Pensioner Mortgages?

Yes, TSB Pensioner Mortgages have a 4.99% APR. Typical mortgages for the over-60s are based on anticipated retirement income, as the building societies association and other building societies see fit.

Are you looking to:

• Raise capital for your retirement?
• Get a better rate?
• Reduce overall leverage?
• Put your properties in a Limited Company?
• Find mortgages for 60 plus?

Frequent Finance offer:

• Massive choice of lenders from multiple sources for the over 60s
• Not just the mainstream lenders or website “featured products”!
• UK mortgages for over 60s not available on the comparison sites with lower rates
• Fixed, variable discounted, and tracker rates for 60 plus borrowers
• Discounted lender arrangement fees
• Lenders that can deal with non-standard property types
• mortgages for 60 plus

Does TSB offer Retirement Mortgages?

Yes, TSB Retirement Mortgages are 2.3% APR.

• Liverpool Victoria Lve Lv Lifetime Mortgage Home Reversion Plan with Retirement Income
• More to Life Lifetime Mortgage Reviews part of the mortgage market
• Lloyds Equity Release Brokers UK with no upper age limit
• Legal And General Equity Release Mortgage with no monthly payments

Enquire today about mortgages for over 60s to find out more!

Does TSB do Equity Release Under 55?

Yes, TSB Equity Release Under 55 is 2.07% MER.

https://en.wikipedia.org/wiki/Equity_release

Does TSB offer different types of lifetime mortgages?

Yes, TSB lifetime mortgages are 2% APR. TSB Lifetime Mortgages have a loan-to-value (ltv) of 60% – Updated For January 2025.

• Equity Release Mortgage with a good mortgage term
• Just Retirement Equity Release Plan for Older Mortgage Applicants
• Prudential Equity Release Mortgage
• Nationwide Retirement Mortgage House

Does HSBC offer equity release at the age of 65 – can I get a mortgage at 60?

Yes, HSBC equity release is a meager rate.

Navigating Pensioner and Retirement Mortgages in the UK looking forward to 2025

The evolving landscape of the UK’s mortgage industry has seen a surge in mortgage products designed explicitly for older borrowers. In recent years, pensioner and retirement mortgages have become vital tools to aid those seeking financial flexibility in their golden years. These products serve as lifelines for many who wish to continue living in their homes, buy new properties, or unlock equity tied up in their current properties.

Interest-Only Mortgages for Older Borrowers in 2025:

Interest-only mortgages are increasingly popular among older borrowers. The key allure of these mortgages is that borrowers only repay the interest monthly, leaving the principal amount untouched.

• Interest-only Mortgages for over 60s and Interest-Only Mortgages for over 60s: These mortgage types, specifically designed for those above 60, provide flexible monthly repayments. They are well-suited for pensioners with stable pension income who might not have a large lump sum to pay off the mortgage capital.
• Interest Only Mortgages for Over 65 Year Olds: For those slightly older, specific interest-only mortgage products cater to those above 65, offering them tailored benefits and competitive rates.
• TSB Interest Only Mortgage for Pensioners: High street banks, such as TSB, offer their versions of interest-only mortgages to cater to pensioners, emphasising the growing need and demand for these products.
• Pensioner Interest Only Remortgages Over Sixties: Many people remortgage to unlock the equity in their homes or switch to a better mortgage deal. Pensioners, particularly those over 60, have products designed to meet their needs.
• Interest Only Mortgage Lenders Over Sixty: Many lenders now focus on the over sixty demographics, understand their unique requirements, and tailor mortgage products to meet those needs.

A Dive into Lifetime Mortgages for 2025:

Lifetime mortgages are a subcategory of equity release products, allowing homeowners to unlock the capital tied up in their homes.

• What is a Lifetime Mortgages for Over 60s and a Lifetime Mortgage for Over 60s: These mortgages allow those over 60 to take a loan against the value of their property, which doesn’t need to be repaid until the house is sold, usually when the borrower moves into care or passes away.

Mortgage Choices for the Senior Demographic in 2025:

• Best Mortgages for Over 60s: As the demand has grown, so have the options. Numerous products in the market stand out due to their competitive rates, benefits, and flexibility, tailored for the over 60 age bracket.
• Mortgages for 60 Year Olds: Whether it’s a first-time buyer at 60 or someone wanting to move homes or remortgage, there are specific products catering to 60-year-olds.
• Mortgage over 60, Mortgages over 60, and Mortgage for Over 60s: These terms often encompass a wide range of mortgage products available for those over 60. The offerings are varied and cater to diverse needs, from purchasing to remortgaging.
• Remortgages for Over 60s and Remortgage for Over 60s: Remortgaging can be an excellent way for those above 60 to benefit from lower interest rates, change mortgage types, or release equity.
• Buy to Let Mortgage for Over 60s and Buy to Let Mortgages for Over 60s: Property investment doesn’t have an age limit. Those over 60 can delve into the buy-to-let market with products specifically designed for their age bracket.

Trends and Rates to Consider in 2025:

• Over 60 Mortgage 2025: The future landscape of mortgages for those over 60 in 2025 suggests further tailoring of products to suit evolving needs and economic conditions.
• Best Interest Only Mortgage 2025 and UK Best Interest Only Mortgages 2025: 2025 was significant for interest-only mortgages, with many lenders, including high street names, offering some of the best rates and products for older borrowers.
• Best Rates for Interest Only Mortgages 2025: As the financial landscape evolves, so do the rates. Those considering an interest-only mortgage in 2025 should keep a keen eye on market fluctuations.
• Low Rate Mortgages for Over 60s: Recognising the fixed incomes many pensioners might be on, lenders ensure their rates are competitive, making homeownership and remortgaging over 60 more accessible.

The need for financial products tailored to the older demographic in the UK has never been more apparent. With various interest-only options, lifetime mortgages, and other tailored products, those over 60 now have a suite of choices at their fingertips.

As the demand grows, the industry will continue to evolve, ensuring that the senior demographic’s needs are met with flexibility, understanding, and a wide range of options.