Over 40s struggling to get a mortgage

Turning 40 doesn’t mean your chances of getting a mortgage are over. In fact, many people secure property finance well into their 40s and 50s — whether buying a new home, remortgaging, or investing.

While age can sometimes affect how lenders view your application, there are plenty of options available if you know what to expect and how to present your case.

Can You Get a Mortgage in Your 40s?

Absolutely. It’s a common myth that turning 40 makes it harder to get a mortgage. While lenders may look more closely at loan term length and retirement income, thousands of borrowers in their 40s and 50s secure long-term mortgages every year.

However, the process can be more complex than for younger applicants — particularly if you’re looking for a 25–30 year term or if your income sources are non-traditional.

“Having a mortgage application rejected is incredibly frustrating,” says Islay Robinson, CEO of Enness Private Clients. “Especially if you are a perfectly credible – and creditworthy – borrower. We don’t believe that your age should be the be-all and end-all of your application. The good news is that there are options out there; you just need to find those lenders who are willing to have a conversation.” Islay Robinson, CEO of Enness.

Why Some Over-40 Borrowers Struggle to Get a Mortgage

In recent years, lenders have become more risk-averse, with stricter affordability and age-based criteria. Many cap their maximum mortgage age between 70 and 75, meaning a 30-year mortgage at 45 might extend beyond their limits.

Common reasons for mortgage rejections in your 40s include:

• Loan terms extending past retirement age
• Limited evidence of post-retirement income
• Self-employment or variable income
• Existing financial commitments

Still, this doesn’t mean you can’t get approved, you may just need to approach the right lenders or tailor your application to show affordability.

How to Improve Your Chances of Approval

1. Show clear retirement-age income - Provide pension forecasts, investment statements, or proof of ongoing business income.
2. Consider shorter terms or flexible products - Some lenders offer interest-only, offset, or retirement interest-only (RIO) mortgages.
3. Work with a specialist broker - Specialist mortgage brokers like Enness can help find lenders who consider older borrowers, self-employed applicants, and unique income profiles.
4. Reduce overall debt - Clearing credit cards or personal loans before applying can improve your affordability score.

Frequently Asked Questions

Can I get a 30-year mortgage at 40?

Yes, but it depends on the lender’s maximum age and your projected retirement income. Some lenders now allow terms up to age 85, giving over-40 borrowers more flexibility.

Can I get a mortgage at 45 or 47 years old?

Yes. Approval depends more on affordability and income stability than age alone.

Is age discrimination in mortgages legal?

No. The Financial Ombudsman Service has ruled against lenders in cases of unfair age discrimination.

Get Expert Help

If you’re over 40 and struggling to get a mortgage or simply want to explore your options, speak to our team at Enness Private Clients. We work with lenders who assess applications on merit, not age.