Yes, it is perfectly possible to get a mortgage once you are over 60. It used to be considered difficult to get a mortgage later in life, since mortgage lenders expected to see a full 25-year term from their customers.
However, today attitudes have changed. Since we are living for longer, working for longer, and retiring later in life, providers now have a range of mortgage products for older applicants.
That being said, mortgages can be a little harder to get your hands on at this age. Since many people start thinking about retirement at this stage, the typical correlation to a drop in income can put off lenders. To be approved for a mortgage, you will need to show that you can keep up with repayments into retirement and have an appropriate credit score.
But with more mortgage lenders and products available in this category than ever (such as equity release and lifetime mortgages), and higher age limits for mortgage terms, there are plenty of ways to obtain a mortgage. Deedle works with a huge variety of lenders to find you the best mortgage for over 60s available.