Notices

Savings customers - the interest rates on many of our variable rate savings products will be decreasing from 6 January 2025. Find out more

We will be emailing or writing to you shortly to let you know of how these decreases affect you. In the meantime, you can see all of these changes here.
Mortgage customers - our Managed Mortgage Rate (MMR) will decrease by 0.25% from 20 January 2025. Find out more:

From 20 January 2025, we'll be decreasing our Managed Mortgage Rates (MMR) by 0.25%. All on-sale discounted variable product rates and other details, including representative examples displayed on our website, have been updated to reflect these lower rates.
We will be writing to existing customers who have been impacted by this change, shortly, with details relevant to them.
View our Christmas opening hours here. For information on bank transfer processing times over the Christmas period please click here.
Rate changes following Bank of England decision to decrease its Bank Rate by 0.25% to 4.75% on 7 November 2024. Find out more

Savings: Interest rates for Windfall Bond and Tracker Savings Bond will decrease by 0.25% from 1 December 2024. We will be writing to all customers individually to confirm the new rates.
Mortgages: Tracker mortgages will change on 25 December 2024 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage.
(Notice updated 08/11)

Later life mortgages

Retired or approaching retirement? Unlike the big banks we don't judge people by their age and can offer generous mortgage terms beyond the age of 60.

The mortgage will be secured on your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

At Family Building Society we offer mortgage lending into retirement. We understand there are many different reasons why you may want a mortgage in later life. For example, you may want to downsize, free up capital to fund a holiday home, make home improvements or help your children or grandchildren get onto the property ladder.

How can we help?

We don’t turn down people's mortgage applications because of their age
We treat our older borrowers the same as our younger ones. We can lend up to the age of 95 at the end of mortgage term across our standard repayment mortgage range.

We'll take income into account
We'll accept earned income to age 70, or even 75 if you are in a non-manual job role. And we'll accept non-earned income from a variety of sources such as fixed pensions, pension pots, investment and rental income.

We don’t believe in a ‘one size fits all’ approach to mortgage lending
We actively look for ways to help when other mortgage lenders cannot.

Any questions? Let's talk

Call us on 03301 732 566 Ask us to call back Email us

Our phone lines are open Monday to Friday
(9am to 5.30pm)

Why should I consider a mortgage later in life?

Unlocking the value tied up in your property can provide a significant lump sum or regular income without having to sell and move out of your home. It can help boost your retirement income, allowing you to maintain your standard of living or meet unforeseen expenses.

Making necessary home improvements or adaptations (e.g. installing a stairlift, modifying bathrooms) to accommodate ageing in place can be funded through a later life mortgage.

What are the options available to later life borrowers?

Owner Occupier mortgages

Our standard range of Owner Occupier mortgage products are available to later life borrowers.

Owner Occupier Repayment mortgages – these types of mortgages are available up to a maximum age of 95 at the end of the term.
Owner Occupier Interest-Only – these mortgages are available up to a maximum age of 89 when the loan commences.

Find out more

Buy to Let mortgages

Our standard range of Buy to Let mortgage products are available to later life borrowers.

Buy to Let Interest-Only mortgages – these mortgages are available up to a maximum age of 89 when the loan commences.
We also accept mortgage applications from expats.

Find out more

Retirement Interest-Only (RIO) mortgage

Our RIO mortgage is an Interest-Only mortgage that doesn't have a specific end date.

A later life specialist mortgage designed for those aged 55 and over.
For those who are looking to stay in their home and avoid downsizing until a specific event, such as moving into long-term care or passing away, triggers the repayment of the mortgage.

Find out more

Joint Borrower Sole Proprietor (JBSP)

Our JBSP mortgage arrangement can also be an option for older borrowers.

This arrangement is designed to enable family members to help support each other with affordability when applying for a mortgage, so older borrowers can be supported by their adult children's income.

Find out more

Speak to our team

Call us on 03330 140140 Ask us to call back Email us Affordability calculator

Our mortgage products

Whatever your situation we offer a range of fixed and discounted rate mortgages, suitable for remortgage or purchase on both an Interest-Only and repayment basis

View our products

Mortgage Calculators

We have a range of mortgage calculators that can give you a good idea of how much you can borrow and how much your repayments might be.

Find out more

Case study

Warwick tells the story of the struggles he and his wife Lynda had in getting a new mortgage close to his retirement, and how we were able to help them.