Can I get a mortgage on a pension? 

We believe your age or being retired should not stop you from getting a mortgage. 

Want to move, remortgage, or unlock cash from your home? Your pension doesn’t have to stop you! 

Good news! Many lenders, like Perenna, accept pension income. The key is finding the right mortgage for you. 

How do lenders look at pension income? 

Lenders may consider different sources of retirement income, such as: 

• State pension: Money from your government pension. 

• Private and workplace pensions: Income from personal or work pensions. 

• Investment income and savings: Some lenders count rental income, dividends, or savings. 

• Annuities and other retirement benefits: Regular payments from retirement plans. 

At Perenna, we take a flexible approach to affordability. We look at your full financial situation, not just your income, to make sure the mortgage works for you now and in the future. 

Mortgage options for retirees 

If you are looking for a mortgage in retirement, here are some options to consider: 

Long-term fixed-rate mortgages 

• Ideal if you have a fixed pension income. 

• With Perenna, your payments can stay the same for up to 40 years. 

• No surprises, no rate hikes – just peace of mind in retirement. 

Standard repayment mortgages 

• If your pension meets affordability checks, you may qualify. 

Retirement Interest-Only (RIO) mortgages 

• Pay just the interest each month. 

• Repay the loan when you sell your home. 

• Available with some lenders, but options may be limited. 

Considering equity release? 

Many think equity release is the only way to unlock funds from their home in later life. But that is not the case. With Perenna, you can borrow and still keep full ownership of your property. 

What to think about when getting a mortgage on a pension 

When exploring mortgage options, think about: 

• Lenders who accept pension income: Not all do, so make sure to choose a lender that does. 

• Predictable payments: Fixed-rate mortgages offer stable payments, helping you budget with ease. 
• Flexibility: Can you move home or repay early without high fees?

Why choose Perenna? 

At Perenna, we believe your age should not hold you back from owning a home. That is why we offer: 

• No maximum age limits – Borrow at any stage of life. 

• Fixed-for-life payments – No surprise rate changes. 

• Short early repayment charges – More flexibility when you need it. 

We don’t have strict age limits like other lenders. Our mortgages are designed to give you options at any stage of life. 

Your retirement, your rules. Let’s make your mortgage work for you. 

Use our mortgage calculator to see how much we could lend you and get an idea of your monthly payments. It is quick and easy! 

If you would like some mortgage advice, that is no problem. We can help you
find a mortgage broker.  

You could lose your home if you don’t keep up your mortgage repayments.   

Correct at time of publishing.