A family go for a walk.

Are you retired or approaching retirement and looking to borrow more?

We may be able to help.

Retirement Mortgages

Preparing to downsize when the time comes

If you’re close to retirement or retired already, we can help if you are looking to buy a new home or remortgage your existing home.

Our Lending into Retirement mortgage is a standard interest only mortgage with a difference. As the name suggests, it is available to customers who are looking to borrow into their retirement with the intention of downsizing later to a smaller home and are prepared to use the available equity to repay the mortgage. At Saffron, we do not believe you should be limited by your age or life stage, and we like to be as flexible as possible to help you either buy your new home or stay in your existing home for longer.

  • This is an ‘interest only’ mortgage – monthly payments of interest must be made
  • Designed specifically for customers who would like to use downsizing as a means to repay their mortgage
  • No maximum age
  • Expert help from our friendly Mortgage Advisers

For those looking to borrow into retirement, we understand there is a lot to consider. The Building Societies Association have produced a helpful guide for older borrowers providing information on the types of options available and things to consider. Alternatively, one of our Mortgage Advisers would be happy to take a look at your options with you, to arrange an appointment, please call us on 0800 072 1100, or complete the form at the top of the page.

Please Note: Other repayment options are available on our standard product range, and these may be more suitable dependent upon your circumstances.

Your home may be repossessed if you do not keep up repayments on your mortgage

Our retirement mortgages

Lending Into Retirement Downsizing [Interest Only]

  • Initial rate2.94% Variable
  • then changing to our SVR minus 1.00%4.64%
  • The overall cost for comparison is4.2% APRC
  • Product periodthree years
  • Deposit required40%
  • Arrangement fee£999
View this mortgage ViewRepresentative Example

A mortgage of £352,383 payable over 10 years, initially on a Discounted rate for 3 years at 2.94% and then a 1.00% discount off our current Standard Variable Rate Mortgage of 5.64% to give a current rate payable of 4.64% (variable) for the remaining 7 years, would require 36 monthly payments of £863.34 and 84 monthly payments of £1,362.55.

The total amount payable would be £497,916.50 made up of the loan amount plus interest (£145,568.98), an application fee of £135 and a redemption fee of £80.

The overall cost for comparison is 4.2% APRC representative.

Talk to us today

To arrange an appointment with one of our Mortgage Advisers call us free on:0800 072 1100or complete the form below:

Does at least one applicant have an income?


Do you have a deposit (or equity in property) of at least 5% of the property value?


Do you own your current residential property (with or without a mortgage)?


Do you have a deposit (or equity in property) of at least 20% of the property value?


Thank you for your enquiry.

A Mortgage Adviser will be in contact with you within 1 working day.

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