Borrowing in retirement

With effect from Thursday 21 July, the maximum age at application for retired mortgage customers has been extended to 80 years old (age next birthday), with the maximum age of repayment extended to 85 years old (age next birthday).

Our support for older borrowers in the UK continues, giving more choice and flexibility to our existing customers moving home and those looking to remortgage from another lender.

Borrowing in retirement applications will initially be exclusive to intermediaries, launching through our retail channels at a later date.

Here are the key criteria requirements:

  • Borrowing in retirement is available to existing Nationwide mortgage customers moving home and to those looking to remortgage from another lender.
  • Retirement borrowers have access to our current product range at 60% maximum LTV with a maximum loan of £150,000 (in addition to any mortgage balance being ported).
  • Only retirement income currently being received will be used when calculating affordability. For joint applications, only 50% of each applicant's pension income can be used, and for sole applications, pension income will be assessed in full.

Full details on borrowing in retirement with Nationwide

Help and Support

To begin with, these applications will only be available through intermediaries. So if you have any questions about borrowing in retirement, please contact your BDM or your regional Dedicated Broker Support team through Broker Chat or on 0800 545 3131.