A common question among older property investors is, “Can I still get a mortgage if I’m over 60, 70, or even 80?” The good news is that for buy-to-let mortgages, age is less of a barrier than it is for residential mortgages. Many lenders cater to elderly landlords, with some allowing mortgage terms that extend well beyond age 85 or even 100.
If you’re an older landlord looking to refinance or expand your portfolio, here’s what you need to know about lender age limits, affordability requirements, and how buy-to-let mortgages differ from residential loans for older borrowers.
Why Age Limits Are Different for Buy-to-Let Mortgages vs. Residential Mortgages
When assessing mortgage applications, lenders focus on affordability and risk. Here’s how this differs for residential and buy-to-let mortgages:
🏡 Residential Mortgages: Stricter Age Limits
Lenders need to ensure you can afford the mortgage payments from your personal income. Since most people retire between 65-70, residential mortgage terms typically end by age 70-75. If you apply for a residential mortgage in your late 50s or 60s, you may struggle to secure a term longer than 10-15 years unless you have strong pension income.
🏠 Buy-to-Let Mortgages: More Flexibility on Age
With buy-to-let mortgages, lenders do not rely on your personal income to assess affordability. Instead, they focus on the property’s rental income covering the mortgage payments. This means age is far less of a restriction—some lenders will allow borrowers to take out mortgages up to age 80-85 at application, with some extending terms beyond 100 years old.
What Are the Age Limits for Buy-to-Let Mortgages?
Each lender sets its own policies, but typical buy-to-let mortgage age limits are:
• Maximum age at application: Usually 75-80 years old, but some lenders accept 85+.
• Maximum age at the end of the mortgage term: Many lenders allow terms extending to age 85, 90, or even 100+.
• Specialist lenders: Some lenders don’t impose an upper age limit at all, provided the rental income is sufficient.
Examples of Lender Age Policies for Buy-to-Let
• High street lenders: Typically cap borrowing at 75-80 years old at the end of the mortgage term.
• Specialist buy-to-let lenders: May lend up to 85+ years at application, with terms extending beyond 100 years old.
• Limited company buy-to-let mortgages: Often have no personal age limit, as the mortgage is taken out through a company structure.
How Do Lenders Assess Older Landlords?
For older buy-to-let borrowers, lenders primarily focus on:
✅ Rental Income Covering Mortgage Payments – The property should generate enough rent to cover the mortgage by at least 125-145%, depending on lender stress tests.
✅ Exit Strategy – If the mortgage term extends past life expectancy, lenders may ask how the loan will be repaid (e.g., sale of property, inheritance planning, refinancing).
✅ Limited Company Structures – Some elderly landlords opt for limited company buy-to-let mortgages, which can offer longer borrowing terms and may not be impacted by personal age limits.
What Are the Best Mortgage Options for Elderly Landlords?
If you’re an older landlord looking to finance a buy-to-let property, these are some common mortgage options:
1️⃣ Standard Buy-to-Let Mortgage – Available from specialist lenders with higher maximum age limits.
2️⃣ Limited Company Buy-to-Let – If borrowing via a limited company, lenders often ignore personal age limits.
3️⃣ Lifetime Mortgage (Equity Release) – Suitable for landlords looking to release capital from an existing property without monthly repayments.
4️⃣ Shorter-Term Fixed Mortgages – Some lenders may offer 5-10 year fixed rates, rather than a standard 25-year term, to cater for older borrowers.
Key Considerations for Older Landlords Applying for a Mortgage
✅ Plan Your Exit Strategy – Lenders may want to see how you intend to repay the mortgage in the long run (e.g., sale of property, refinancing, passing down to family).
✅ Explore Specialist Lenders – Mainstream banks often have stricter age limits, but specialist buy-to-let lenders cater to older landlords.
✅ Consider a Limited Company Buy-to-Let – If you’re over 80, borrowing through a limited company structure may be the best option.
Final Thoughts: Can Elderly Landlords Still Get Mortgages?
Yes! Older landlords can still secure buy-to-let mortgages, often with terms extending beyond 85 or even 100 years old. Because affordability is based on rental income rather than personal earnings, lenders are more flexible than they are with residential mortgages.
📞 Need Expert Advice?
If you’re an older landlord looking for mortgage options, speak to The Landlords Broker today. We specialise in sourcing buy-to-let mortgages for older borrowers, whether you need a new mortgage, refinancing, or help navigating lender criteria. Let’s find the best deal for your situation!