At Hayes Finance, we believe that good advice never goes out of date. That is why so many of our clients return to us when life changes. Whether it’s a growing family, downsizing, remortgaging or, in this case, planning for retirement, our clients know they can rely on us to be in their corner.
This is the story of a married couple who came back to us for help securing a new residential mortgage in later life. With one applicant aged 60, and retirement on the horizon, this was all about getting the balance right between affordability, flexibility, and financial peace of mind.
The Challenge
The couple were planning to purchase a new property priced at £146,000 and wanted to borrow £124,000. On paper, it was a fairly straightforward purchase, but their age made things more complex.
As they approached retirement, the couple were keen to keep monthly repayments affordable while securing a mortgage term that would not feel too restrictive. They were looking for a 15 year term, which many mainstream lenders would not offer due to the applicant’s age and the expectation that their income would change once fully retired.
This is where many borrowers can find themselves stuck. Although they may have a long history of financial stability, excellent credit, and realistic plans in place for retirement income, some lenders simply do not have the flexibility or appetite to consider anything outside a narrow set of criteria.
With that in mind, we knew our job was to look beyond the high street and find a lender that would take a more considered, human approach.
Our Solution
Because these were returning clients, we already had a good understanding of their financial background, which meant we could act quickly. The first step was to review their up-to-date income, pensions, and any ongoing commitments, taking into account their long-term plans for semi-retirement and eventual full retirement.
Once we had a clear financial snapshot, we set to work finding a lender with a strong affordability model, particularly when it comes to later life lending.
We identified a specialist residential lender known for supporting applications where retirement is a key consideration. They took a practical view of the couple’s circumstances, recognising that although income would change in future, their ability to manage the mortgage remained strong.
We were able to secure the following:
- A mortgage of £124,000 on a purchase price of £146,000
- 85% loan to value
- Five year fixed rate at 4.69%
- 15 year mortgage term to align with their retirement plans
This product struck the right balance between long-term flexibility and short-term certainty. The five year fixed rate provided stability and predictability during the initial retirement phase, while the 15 year term gave them room to manage payments comfortably well into the future.
How We Delivered It
While finding the right mortgage product is essential, what truly makes a difference is how that process is managed. From the moment these clients got back in touch, our team made sure everything was handled with care.
Ed and Nicola led the case from start to finish. Having worked with these clients previously, they already had a good rapport, but even for returning clients, no two mortgage applications are ever the same.
They kept in close contact throughout the process, ensuring every detail was taken care of and no paperwork slipped the net. From the initial affordability assessments to liaising with the lender and solicitors, they stayed proactive, always one step ahead to keep things moving forward.
When questions came up, they answered them. When the lender needed additional documentation, they were on it straight away. The clients felt supported throughout and trusted that everything was in hand, which, during what can be a stressful time, makes all the difference.
The Outcome
✅ The clients successfully secured their new home with confidence
✅ The five year fixed rate offered peace of mind as they entered retirement
✅ The 15 year term meant repayments remained affordable, without the pressure of an overly short loan period
✅ The whole process was handled smoothly and professionally by a team they already knew and trusted
“They got the job done in no time at all. Hayes Finance got our mortgage for our new home and we were so pleased with the service we received. Ed and Nicola are amazing. We would definitely use Hayes Finance again. Thank you.”
– Returning Residential Mortgage Client
This case is a great reminder that your mortgage options do not disappear when you reach a certain age. With the right broker and the right lender, later life borrowing can be both sensible and sustainable.
A Personalised Approach That Works
The mortgage market is full of rules, thresholds, and tick-box criteria. But real life does not always fit neatly into a form. That is where we come in.
At Hayes Finance, we know how to navigate complex cases. Whether you are self-employed, approaching retirement, buying later in life, or simply not getting the answers you need from the high street, we can help.
We also know that buying a home, especially when your circumstances are changing, can be emotional. That is why our team takes the time to understand your full story. We do not rely on automated systems or generic advice. Every case is handled personally, professionally, and with real care.
Thinking About Your Next Move?
If your circumstances are changing and you are thinking about your next home, you need a broker who can think creatively and act quickly, so we want you to remember these two simple things for next time you need to review your mortgage options:
- We do this day in, day out. We live and breathe this stuff.
- When the computer says no, give us a go.
