Borrowing at 60 (or 61, 62): is it possible?
Yes. Being 60 or 61 does not stop you borrowing: solutions exist, including over 20 years, depending on your file. Here is what really matters to lenders.
What matters more than age
There is no legal age limit for borrowing. Lenders examine your income (salary, pension, rental income), assets, deposit and repayment capacity. Age mainly matters through borrower insurance and loan term.
- Stable income (work, pension, investment income)
- Deposit and available savings
- Property or financial assets
- A younger co-borrower can strengthen the file
Borrower insurance: the key point
Insurers set their own age and health conditions, which can limit or raise the cost of cover. The AERAS convention can help people with an aggravated health risk to borrow. Other guarantees can be considered (mortgage, savings pledge).
What term?
A term of 15 to 20 years often remains possible depending on profile and project. Precise conditions depend on lenders and insurer.
And if a standard loan is hard?
Alternatives exist: secured loan, lifetime mortgage, financing backed by existing assets. Reviewing your file identifies the best route.
Tell us in a few clicks what you want to finance.
Frequently asked questions
Can I borrow at 61?
Yes, depending on the file. Lenders look at income, assets, deposit and insurance, not only age.
Can I borrow over 20 years at 60?
It can be possible for some profiles: it depends on lender, insurer and file.
Is insurance compulsory?
The law does not impose it for a mortgage but lenders require it in practice.
What if I have a health issue?
The AERAS convention exists to ease access to credit for people with an aggravated health risk.
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