Many couples and family members look at taking out a joint mortgage, whether they are buying their first home, moving house, or securing a mortgage in later life.

One of the most common questions we hear is whether there’s an age limit that could affect your ability to get approved.

The answer depends on a few factors, including the lender, the type of mortgage you choose, and the ages of both applicants. If you are exploring your options, here’s what you need to know.

How does a joint mortgage work?

A joint mortgage allows two or more people to take out a mortgage together. Most commonly, this is done by couples, though it can also involve family members or friends.

All applicants are jointly responsible for repaying the mortgage, and lenders will consider the combined income of everyone named on the application.

Joint mortgages can help you borrow more than you would individually, as lenders take both incomes into account when calculating affordability.

It also means that all parties will jointly own the property, either as joint tenants or tenants in common.

Does age impact a joint mortgage in Scunthorpe?

Age does play a part in how lenders assess joint mortgage applications.

Many lenders have upper age limits either at the point of application or at the end of the mortgage term.

These limits vary, some lenders may set them as low as 70 or 75, while others specialise in age 50+ mortgages or have no maximum age at all.

When applying jointly, the age of the oldest applicant is often a key factor.

Lenders want to be confident that both applicants can comfortably manage the mortgage repayments, especially if one person will reach retirement age during the mortgage term.

That said, some lenders take a flexible approach and will consider a wide range of income sources, including pensions.

If you are older and applying jointly with someone younger, this can open up more options, though the lender will still look carefully at the full financial picture.

Are There Mortgage Options for Older Applicants?

Yes, there are a growing number of mortgage options designed for older applicants in Scunthorpe.

Age 50+ mortgages and retirement interest-only mortgages are two popular choices for borrowers in later life.

These products often have flexible criteria around age and income, making them suitable for joint applications where one or both applicants are older.

It’s also worth noting that some mainstream lenders are now more accommodating of older borrowers, especially where there is strong affordability and clear evidence of how the mortgage will be repaid throughout the term.

If you are unsure which lenders are likely to accept your application, working with a mortgage broker in Scunthorpe like ourselves can help you access the most suitable products.

What do lenders look at besides age?

Age is only one part of the picture.

Lenders will also look closely at income, credit history, outgoings, and the type of property being purchased.

In a joint mortgage, both applicants need to meet the lender’s criteria, though flexibility around income sources can vary between lenders.

Pension income is often accepted, as are other regular income streams.

Lenders will also check your credit records to make sure there is no recent adverse credit that could affect the application.

The amount of deposit or equity you bring can also influence the choice of lender and the mortgage deals available.

If you are applying jointly with someone younger, this can sometimes help balance the overall application, as lenders may consider how the combined income supports the mortgage.

If you are thinking about equity release or a lifetime mortgage in Scunthorpe, this too can be discussed alongside your joint mortgage options.

Whether you are applying as a couple, with family, or in later life, our mortgage advisors in Scunthorpe can help you navigate the process and find a mortgage that works for your circumstances.

Date Last Edited: June 10, 2025