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Products Updated August 8, 2018

Secured Loans For Pensioners & Retired

If you are over the age of 65 or have retired and need a loan then we’ve selected our top choice broker to help. They can help find you a cheap loan and will compare lenders from across the market place. All credit types accepted and loans are available for both homeowners and tenants.

All credit types
Rated 5/ 5

Loans Warehouse Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

Loan Amount
£3,000 - £1,000,000

Representative APR
8.6%

Loan Term
1 - 30 years

Loan Type
Secured Loans & Personal Finance

Status
Homeowners & Tenants
Max LTV 95%

Compare rates to find the best deal available to you from the UK’s leading Second Mortgage broker. We are independent and have access to the major lenders in the market. All quotes are free and without any obligation.

Representative Example

Loans for pensioners – what are your options?

Loan options for pensioners and older people

Loan options for pensioners and older people

Loans for pensioners are readily available from a wide range of lenders. Loans can be arranged quickly by our experts including secured loans that are available for homeowners and unsecured personal loans.

Many lenders will allow borrowers to take out loans well into retirement and within their 70s and 80’s depending on the loan duration and subject to affordability checks. Our experts listed above will be able to give you a quote based upon the options that are available to you.

 

FAQ's

Can I get a loan if I am a pensioner over the age of 65?

Yes. There are a range of lenders who are willing to provide both secured and unsecured loans to pensioners over the ages of 60, 65, 70 and 75-80. As an older borrower there will be limitations on the loan term available. Benefit and pension income can be taken consideration if you are not in employment.

Can I get a loan without proof of my income?

You will be required to show proof of your income. This may be from benefits such as a pension, earnings via employment and PAYE, or SA302 forms if you are self employed. However, there are solutions for buy to let loans where no proof of income is required, and the only requirement from the lender is proof of the tenancy agreement covering the rent.

Can I get a loan without a credit check?

No. All of the lenders and brokers on our panel will require a credit check to ensure your credit worthiness. However, there a selection of lenders who can lend if you have adverse or bad credit.

Can I get a loan with a bad credit history?

Yes. There are a good selection of lenders willing to borrow to those who have retired or who are at pensioner age with a poor credit history or who have a low credit score.

Should I use a broker or go direct to a lender.

The avantage of using a loan broker means that they can search a wider range of loans to find you the best deal at no additional cost to you. Also, if you have some adverse credit or a none standard loan application then using a broker may prove helpful in ensuring your loan application is a successful one.

I am retired and only working part time hours can I get a loan?

Yes. The lender will need to consider your part time earning capacity and if the loan you wish to take out is affordable. As an older borrower there may also be restrictions on the loan term depending on your age. The lender may also take onto consideration any pension benefits towards your income calculation. Our experts above will be able to provide you with advice on what options are available.

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