For many people in their 20s, 30s and early 40s, mortgage terms of 25 to 30 years are seen as the norm, but borrowing in your 50s comes with some extra considerations. Spreading borrowing over a longer period keeps monthly payments manageable, allowing families to grow, move and plan for the future.
So if borrowing in your 50s, things will usually feel a little different. The conversations shift. There’s often a quiet, underlying question:
“Is it still possible for me to borrow now?”
“Can I still take out a new mortgage at my age?”
“Is there a smarter option than loans or credit cards?”
More and more people in their 50s find themselves needing funds for meaningful reasons. A home extension to make the house more practical, helping a child with a deposit, contributing to a wedding, or even simply restructuring their finances to reduce monthly outgoings.
This is exactly the situation John found himself in at age 54 and his story reflects how many people feel at this stage of life.
A Life That Had Evolved but a Mortgage That Hadn’t
John had lived in his home for years. He had built a stable life, raised his children, worked hard and was now looking ahead to a different kind of future. Life however can bring new needs, no matter your age.
His daughter was preparing to buy her first home and needed help with her deposit. His own property needed an extension to support future accessibility needs and while he had some savings, taking out high-interest loans or using credit cards felt completely wrong. Much more expensive, stressful and ultimately limiting.
John assumed remortgaging wasn’t an option. Except this wasn’t true.
The Conversation That Changed Everything
When John contacted HFA Mortgage & Protection, he was honest about his doubts. He explained that he had just 11 years until he turned 65, and he didn’t think any lender would consider a new mortgage term that short. This is where experience and understanding of lender criteria make a huge difference.
What John learned surprised him and ultimately changed what was possible for his family. At 54, he could still borrow.
Many lenders allow borrowing up to age 65 or even beyond, as long as the payments are affordable and the applicant’s income is stable. For John, his income was reliable, his credit record strong and he had significant equity in his home.
After reviewing his case, we confirmed he could borrow over an 11-year term, taking him right up to the age of 65.
The monthly payments were significantly lower than using high-interest credit and the mortgage structure allowed him to release the funds he needed without creating financial strain.
A Smarter, More Comfortable Way Forward
The relief he felt was immediate. Instead of turning to short-term borrowing with high costs, John was able to structure an affordable, sensible mortgage that aligned with his life stage and goals.
It gave him:
• Lower monthly payments than personal loans or credit cards
• Predictability for the next decade
• A safe, regulated borrowing route
• The ability to help his daughter onto the property ladder
• Enough remaining funds to improve his home in a way that would support him for years to come
Most importantly, it gave him dignity and choice. He wasn’t forced into expensive debt or made to feel like opportunities had passed him by.
Instead, he found a way to support his family and future in a way that was stable, affordable and aligned with his circumstances.
You’re Not “Too Late” – You Just Need the Right Advice
One of the biggest misconceptions in the mortgage world is that borrowing is only for the young but the reality is very different. People live longer. Work later. Move homes for new beginnings. Support children and grandchildren. Adapt their homes as circumstances change.
Life doesn’t stop at 50 and neither should your options.
Whether you need to access money for home improvements, help a child take their first step onto the ladder, or simply create a more comfortable monthly repayment, expert advice can make all the difference.
At HFA, we help clients in their 50s and 60s understand:
• What mortgage terms are still available
• How affordability works later in life
• Which lenders consider income up to retirement
• Whether borrowing over 8, 10, 11 or more years is possible
• How remortgaging compares to taking loans or credit
You may have more options than you realise. Just like John, you may discover a solution that feels both practical and empowering.
Start the Conversation Today
If you’re in your 50s and considering borrowing, remortgaging, or restructuring your finances, the right guidance can help you understand what’s achievable safely and sensibly.
HFA Mortgage & Protection can review your circumstances, explain your options clearly, and help you find an affordable way forward that supports both your present and your future.
Learn more at https://hfassociates.uk.
Disclaimer:
There may be a fee for mortgage advice. The precise amount of the fee will depend upon your circumstances but will range from £195 to £1500.
Your home may be repossessed if you do not keep up repayments on your mortgage.
