A Mortgage Term Into Retirement
Many people in their forties and fifties need a mortgage term that runs past the age they plan to stop work. Lenders allow it, but they want to know the mortgage will still be affordable once the salary stops. How close you are to retirement decides what evidence they ask for.
- When lenders start checking retirement income
- The pension evidence they ask for
- Maximum retirement ages and term limits
- Keeping the term long without the risk
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Tell Us About Your Term and Retirement
Share your ages, your income, when you expect to retire, your pension forecasts and the term you want. We will tell you which lenders will accept it, with advice built around your circumstances rather than headline rates.
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How lenders check retirement income
From each lender's own published criteria, checked 11 October 2026.
| Lender | When it applies | What it asks for |
|---|---|---|
| TSB, more than 10 years to retirement | Term runs past retirement age or 70 | Proof you or your employer pay into a pension, such as a payslip or pension statement. Affordability on current income |
| TSB, less than 10 years to retirement | Term runs past retirement age or 70 | A pension forecast, State Pension statement or annuity statement dated within 12 months. Affordability on current and retirement income |
| Leeds Building Society | Expected retirement age before 65 or up to 70 | Term up to the 85th birthday, maximum 40 years. Its income tool shows the income it will use |
| Nationwide | Maximum retirement age 70 | Term up to 40 years. New borrowers up to 75 at application |
TSB caps all residential terms at age 75. Other lenders apply their own thresholds and evidence rules.
At a Glance
Planning the term
Longer terms lower the payment. Running the term into your seventies keeps monthly payments down while you are working. The cost is more interest overall, and the need to show retirement income.
Your stated retirement age matters. Lenders ask when you expect to retire. If you plan to work longer, some lenders will accept it, often up to 70 and sometimes beyond for certain occupations. Be realistic, because the rest of the assessment depends on it.
Overpay before you retire. Many mortgages allow overpayments, often up to 10 per cent a year without a charge. Paying down the balance while earning can mean the mortgage ends at or soon after retirement in practice.
Joint applicants. The older applicant usually sets the limit. Where incomes and ages differ, the choice of lender can change the term available.
Gather your pension forecasts before you apply. They take longer to obtain than payslips, and a missing forecast is a common reason for delay.
Pensions lenders accept
State Pension. A State Pension statement from GOV.UK shows your forecast and is widely accepted as evidence.
Defined benefit pensions. A forecast from the scheme showing the expected annual income is usually straightforward to use.
Defined contribution pots. Lenders look at the projected income or the fund value. Drawdown is accepted by many lenders, with a check that the fund can sustain the withdrawals.
Already retired? Pension income in payment is assessed like any other income. Our page on pension income mortgages covers it, and mortgages over 70 compares lender age limits.
If your retirement income will not support the mortgage, a shorter term, a smaller loan or a plan to downsize may still make the case work.
Where to go next
The pages most often read alongside this one.
How we set up a term into retirement
We plan the term around your working life and your pensions.
Agree the dates
Your ages, expected retirement and the term you want.
Gather forecasts
State Pension statement and every private or workplace pension.
Match the lender
Retirement age limits and income rules that fit.
Application
Submitted with current and retirement income evidenced.
Completion
With a plan for overpayments if they make sense.
Read more about borrowing later in life
Related guides.
Need a term past retirement?
Tell us your ages, income and pension forecasts. We will tell you which lenders will accept the term.
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Mortgage Term Into Retirement: Frequently Asked Questions
Can my mortgage run past retirement age?
Yes, with most lenders, provided you can show the mortgage will remain affordable after you retire. Lenders set their own maximum ages for retirement and for the end of the term.
What evidence do lenders want for retirement income?
Usually a pension forecast, a State Pension statement or an annuity statement. TSB, for example, wants one dated within the last 12 months where retirement is less than ten years away.
What if I am more than ten years from retirement?
Some lenders assess you on current income and ask only for proof you are paying into a pension. TSB does this, accepting a payslip showing pension contributions or a pension statement.
What is the maximum retirement age lenders accept?
Often 70. Nationwide and Leeds Building Society both set a maximum retirement age of 70, although the term itself can run later.
How long can my mortgage term be?
Up to the lender’s maximum, often 35 or 40 years, and no later than its maximum age at the end of the term, such as 75 at TSB or the 85th birthday at Leeds Building Society.
Is a longer term a bad idea in my fifties?
Not necessarily. It lowers the monthly payment while you work. The cost is more interest overall, which overpayments can reduce.
Can I plan to work past 70?
Some lenders accept a later retirement age for certain occupations, but many cap it at 70. Be realistic, because the lender will rely on it.
Do lenders accept drawdown as retirement income?
Many do, with a check on whether the fund can sustain the withdrawals over the term.
How do I get a State Pension forecast?
From GOV.UK, using the check your State Pension forecast service. It is one of the documents lenders most often ask for.
What if my retirement income is too low?
A shorter term, a smaller loan, overpaying before retirement or a plan to downsize may make it work. We can compare the options.
Written and reviewed by Osman Emin, CeMAP, mortgage and protection adviser · FCA register OCE01003 · Updated YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.