As you move into retirement, it is natural to review your financial position, and your mortgage may be part of that.

Many homeowners in Lincoln ask whether it is possible to remortgage in retirement.

The answer is yes, and there are several options worth exploring.

Through our mortgages for over 50s in Lincoln service, our mortgage advisors regularly help clients remortgage later in life, whether to release equity, secure a better deal, or adapt to changing circumstances.

Why Remortgage in Retirement?

There are many reasons why you might consider remortgaging during retirement:

  • To reduce monthly outgoings and make finances more manageable
  • To switch to a more flexible mortgage product
  • To release equity from your home to fund other needs
  • To pay off an existing mortgage with a more suitable solution

Each person’s circumstances are different.

Our mortgage advisors in Lincoln take the time to understand your goals and explain which remortgage options are available.

What Are My Options?

Several mortgage products can support homeowners who wish to remortgage in retirement.

A retirement interest-only mortgage in Lincoln is one option to consider.

With this type of mortgage, you only pay interest each month, keeping your payments lower.

The capital is repaid from the sale of your property when you pass away or move into long-term care.

Alternatively, a lifetime mortgage in Lincoln allows you to release equity without making monthly repayments, with the loan and interest repaid from your property’s eventual sale.

For those who still have a strong income in retirement, a standard repayment mortgage may also be possible, particularly if you aim to clear your existing mortgage over a set term.

Our mortgage advisors will help you compare these options in detail so you can make an informed decision based on your needs.

Can I Remortgage With Pension Income?

Yes, many lenders are happy to accept pension income when assessing your ability to remortgage in retirement.

This includes income from private pensions, workplace pensions, and the state pension.

If you have additional sources of income, such as rental income or savings, these can also strengthen your application.

Through our mortgages for over 50s in Lincoln service, we help clients prepare applications that present their income clearly and fully to lenders.

What Should I Consider?

When thinking about remortgaging in retirement, it is important to understand how different options may affect your long-term plans.

For example, a lifetime mortgage in Lincoln will reduce the value of your estate and may affect certain benefits.

A retirement interest-only mortgage requires you to maintain monthly interest payments throughout your retirement.

Our mortgage advisors in Lincoln will take the time to explain the pros and cons of each solution, helping you choose a path that supports your needs both now and in the future.

Date Last Edited: June 12, 2025