Later life lending
Do you have clients who were turned down by high street lenders simply because of their age?
We know that not every client is a straightforward case and don't believe in a 'one size fits all' approach to lending. We'll always take the time to listen to those people who are not well served by the mass market, such as those in or approaching retirement.
What makes us different?
We've helped many borrowers remain in their home by allowing them to have a mortgage with us well into their retirement. We've also helped Interest-Only borrowers who have found themselves trapped on high interest rates.
- We have a personal approach to lending and manually underwrite all our mortgages
- We lend in retirement with higher maximum ages than most lenders, with a maximum age of 95 at the end of term for Repayment mortgages or 89 when the loan commences for Interest-Only and BTL mortgages.
- We’ll take into account earned income up to the age of 70, or even 75 if the client is in a non-manual role
- We can consider up to 90% of a pension pot or investment (split over the mortgage term), plus fixed pensions
- We can also accept rental income that can be evidenced on an SA302 and Limited Company director's salary/dividends.
Our normal lending criteria applies for older borrowers, so they can apply for any of our core product range with the same rates and same terms.
Find out more about our Owner Occupier and Buy to Let product ranges.
If your client is looking for something outside of our core range, we do offer specialist products such as Joint Borrower Sole Proprietor and Retirement Interest-Only mortgages.
JOINT BORROWER SOLE PROPRIETOR (JBSP)
This arrangement allows family members to help each other with affordability when applying for an Owner Occupier or Buy to Let mortgage. Along with allowing older borrowers to use the equity in their home to help adult children buy their first home or step up the property ladder, it can be used in reverse so that adult children can use their income to help their parents borrow in later life.
Find out more about our JBSP arrangement.
RETIREMENT INTEREST ONLY (RIO)
Our RIO mortgages do not have a term end date, giving your clients the flexibility to enjoy their home until a specific life event, such as moving into long-term care or passing away, triggers the repayment of their mortgage.
View more information about our Retirement Interest-Only product.
Latest product news
Buy to Let and Later Life roundtables with Mortgage Introducer
Specialist landlords rising, brokers in demand
The UK Buy to Let market is undergoing a significant shift. As regulatory, tax and operational pressures increase, accidental landlords are increasingly exiting, while professional portfolio landlords, limited company borrowers and expats are playing a larger role in shaping the market.
These changes were explored at a recent Mortgage Introducer roundtable with Paul Roberts, Senior Account Director at Family Building Society, and Martin Sims, Distribution Director at Molo Finance. The discussion highlighted how Buy to Let has evolved beyond a standard, rate‑led proposition and now requires deeper expertise, clearer guidance and closer collaboration between advisers and lenders.
For brokers, this means supporting clients who are reassessing their strategies, whether deciding to hold, restructure, exit or expand portfolios, often across increasingly complex ownership structures and borrower profiles.
Why older borrowers deserve better broker advice
Alongside Buy to Let, Later Life lending is also becoming an increasingly important part of the mortgage market. Longer mortgage terms, extended working lives and more complex income profiles mean borrowing later into life is no longer uncommon.
In a roundtable with Mortgage Introducer, alongside Livemore, we explored how evolving affordability considerations are reshaping later life borrowing and why early planning is becoming essential for advisers supporting clients with long‑term lending needs.
View the Later Life roundtable
Our team of BDMs now cover the whole of England, Wales and Scotland, and are all ready to answer your queries and guide you through the application process.
Later Life case study
Mr and Mrs Woods were able to secure their dream home in later life thanks to our flexible Later Life Interest-Only mortgage and the personal support of our Mortgage Advisor, Franki.
Criteria checker
Can we help your client? Use our tool to find out.
Simply type your criteria to see our levels of acceptance and flexibility.
Your Local BDM:
Kirsty Dancer
Your Local BDM:
Sam Byrne
Your Local BDM:
Sam Morrison
Your Local BDM:
Neil Cadwallader
Your Local BDM:
Stuart Heavens
Your Local BDM:
Arif Kara
Your Local BDM:
Nathan Waller
Your Local BDM:
Paul Roberts
A new BDM will be covering your area soon. In the meantime, our experienced business support team are on hand to support you with any applications, case updates or any queries you may have.
- 03300 243407
- 01372 745607
- BDR@familybsoc.co.uk
Opening hours: Monday - Friday: 9am - 5.30pm. Saturday: Closed
We may record any telephone calls we have with you in the interest of staff training, monitoring customer service or for security purposes.