Do I need to bank with a private bank already to get a private bank mortgage?

No, though it helps. Most private banks will consider a mortgage as the opening of a new relationship, not just a product for existing clients. Some, like C.Hoare & Co, are the exception and lend almost exclusively to existing private clients.

How much do I need in assets to qualify for a private bank mortgage?

There's no single threshold — it varies by bank and by case. Some banks expect a meaningful level of assets under management as a condition of lending; others are more flexible if the income and security profile is strong.

Is a private bank mortgage cheaper than a high street mortgage?

Not necessarily. Rates can be competitive, particularly for clients bringing significant assets to the relationship, but arrangement fees and AUM requirements often offset any headline saving. The right comparison depends on the full structure, not just the rate.

Can I get a private bank mortgage as a non-UK resident?

Yes — international and non-resident clients are a core part of the private banking mortgage market, particularly for prime London property. Structuring across jurisdictions and currencies is something private banks are typically well set up to handle.

What's the minimum loan size for a private bank mortgage?

Most private banks focus on loans from around £1-2 million upwards, though this varies by lender and by the wider relationship. Below this level, high street or specialist lending is usually more appropriate.

Can I use investment assets instead of income to secure a mortgage?

Often, yes. Many private banks will lend against a discounted value of a portfolio rather than requiring income alone to support the loan, which is particularly useful for clients with significant wealth but modest salaried income.

Do private banks offer interest-only mortgages?

Yes, more readily than most high street lenders, particularly where there's a credible and evidenced repayment strategy tied to assets, business sale proceeds, or other capital events.

How long does a private bank mortgage take to arrange?

It varies considerably. Because terms are relationship-led rather than templated, timelines can be longer than a straightforward high street application, though a well-prepared case presented to the right bank can still move quickly.

What documents will a private bank ask for?

Expect more than a standard mortgage application — typically a detailed statement of assets and liabilities, business accounts or tax returns for variable income, source of funds and source of wealth evidence, and details of any existing banking relationships.

Can a private bank mortgage be used for buy-to-let or commercial property?

Some private banks will lend on investment or commercial property as part of a wider relationship, though this is less standardised than residential lending and is assessed case by case.

What happens if my income is irregular or made up of bonuses and dividends?

Variable income is typically assessed holistically rather than through a fixed multiplier, which suits business owners, partners, and bonus-heavy earners.

Should I use a broker or approach a private bank directly?

A broker with active private banking relationships will usually have a clearer view of current lending appetite than a client approaching cold, and can present the case to the bank most likely to say yes on the best terms.

Is a private bank mortgage right for every high-net-worth borrower?

No. For a straightforward purchase with clean, provable income and no interest in a new banking relationship, a high street lender is often faster and cheaper. Private bank lending earns its place where complexity, scale, or an existing relationship make it worthwhile.

Lender Guides

Hodge Later Life Mortgage: The Essential 6x Income Guide

Hodge later life mortgage options include the Resi Retire and Retirement Interest Only products for eligible borrowers. This guide covers income, eligibility, risks and alternatives.

Written By: James Blackler

On Aug 27, 2026

At Oakstead Finance, we work with Hodge regularly and have a practical understanding of how the lender approaches applications. Hodge is a specialist lender that assesses applications on a case-by-case basis rather than by rigid age limits, accepting pension, investment, rental and employment income with no cap on the number of income sources per applicant — an approach that produces materially different results from high-street lenders for older borrowers.

What is a Hodge later life mortgage?

Hodge offers two distinct mortgage structures for borrowers approaching or already in retirement: Resi Retire and the Retirement Interest Only mortgage.

✪ Resi Retire is available on a repayment or interest-only basis for a defined term of up to 41 years, with no minimum age.
✪ The RIO mortgage is interest only from age 50 with no conventional end date, repaid from the sale of the home following death or a permanent move into long-term care.
✪ Both products are available for purchases and remortgages in England, Wales and mainland Scotland.
✪ Neither product requires the recommending adviser to hold a specialist equity release qualification.

Oakstead Finance’s guide to mortgages for borrowers over 60 explains why age, income and repayment structure must be considered together.

Who is eligible and what income is accepted?

Hodge does not limit the number of income sources per applicant and can consider a wide range of retirement income alongside employment earnings.

✪ Employed and self-employed income can be considered up to age 80, and rental income has no upper age limit.
✪ Pension income, future pension entitlements, investment income and limited company residential income are eligible sources.
✪ Bonus income is accepted at 100% of the amount received, and voluntary pension contributions are ignored in affordability.
✪ Borrowers with incomes above £40,000 may borrow up to six times income.
✪ For joint applicants beyond age 87, the lender assesses each applicant’s ability to continue payments following the other’s death.

For applicants comparing payment structures, Oakstead Finance’s guide to interest-only and repayment mortgages explains how the balance changes under each method.

Hodge at a Glance

Criteria point	Published position
Resi Retire minimum age	No minimum age
RIO minimum age	50
Resi Retire max LTV (repayment)	95%
Resi Retire max LTV (interest only)	80%
RIO max LTV	75%
Maximum loan (Resi Retire)	£3 million
Maximum loan (RIO)	£2 million
LTI for income above £40,000	Up to 6 times

Criteria, products and rates can change. The live product guide and full lending criteria must be checked before submission.

What does a worked affordability example look like?

Consider a hypothetical retired couple aged 68 with combined pension income of £45,000 who wish to remortgage their £400,000 home and borrow £200,000.

At six times income, the theoretical ceiling is £270,000. The requested £200,000 sits inside that figure at 50% LTV, comfortably below the 75% RIO cap, with the monthly cost limited to interest payments.

A mainstream lender may decline the same case because a fixed retirement-age rule or a narrow pension definition restricts the term. Hodge instead assesses each income source individually, which is the practical difference for older borrowers.

What are the main risks and trade-offs?

Later-life borrowing can extend financial commitments into a period when household income may decline further.

✪ A RIO mortgage leaves the capital outstanding until death or permanent entry into long-term care, reducing the equity available to beneficiaries.
✪ Interest-only payments keep the monthly cost lower, but the balance does not reduce through normal payments.
✪ After a fixed period ends, the mortgage reverts to the Standard Variable Rate unless another deal is selected.
✪ Later-life borrowing can affect tax, benefits, estate planning and care-funding considerations, so qualified professionals may need to confirm the wider position.

For families weighing debt against investment, Oakstead Finance’s examination of whether to pay off a mortgage or retain investments highlights the difference between mathematical returns and personal security.

How does a Hodge later life mortgage compare to alternatives?

LiveMore Capital and Legal and General provide useful comparisons because their later-life criteria differ in specific ways.

✪ LiveMore Capital offers a RIO mortgage from age 50 with no maximum age at application, and the youngest joint borrower can be 45.
✪ Legal and General offers a RIO mortgage from age 55 with a minimum loan of £10,000, which may exclude applicants who qualify under Hodge’s age-50 threshold.
✪ Hodge’s Resi Retire range has no minimum age at all, giving it a wider reach for borrowers under 50 whose mortgage will extend into retirement.

Neither difference establishes a universal preference. Income structure, LTV, property type, repayment plan and product cost across the full term all remain relevant to the comparison.

What You Need to Know

✪ A Hodge later life mortgage can support borrowers approaching or in retirement through Resi Retire or RIO structures.
✪ Resi Retire has no minimum age, while the RIO mortgage is available from age 50 with no fixed end date.
✪ Pension, rental, investment and employment income can all be considered without a limit on the number of sources.
✪ RIO borrowing leaves the capital outstanding until death or permanent entry into long-term care.
✪ Current products and criteria must be confirmed before an application is submitted.

Book a Consultation

Frequently Asked Questions

What age is a Hodge RIO mortgage available from?

The RIO mortgage is available from age 50 with no maximum age at application. Affordability, income, property and the complete live criteria still apply.

Does a Hodge RIO mortgage have an end date?

A Hodge RIO mortgage does not use a conventional fixed end date. It normally becomes repayable following the borrower’s death or permanent move into long-term care.

Are monthly payments required on a RIO mortgage?

Yes. A RIO borrower must pay the mortgage interest each month, and the home may be repossessed if required payments are not maintained.

What is the difference between Resi Retire and RIO?

Resi Retire uses a defined term of up to 41 years and can be arranged on a repayment or interest-only basis. The RIO mortgage is interest only with no conventional end date.

Can Hodge consider pension income?

Hodge can consider pension income and future pension entitlements, subject to evidence and underwriting. The lender must be satisfied that the complete income position supports the mortgage.

Is a Hodge later life mortgage the same as equity release?

No. A Hodge RIO mortgage requires monthly interest payments and is assessed for affordability. A lifetime mortgage may allow interest to accumulate, so the payment obligations and effect on equity are different.

What is the maximum LTV for Resi Retire?

Resi Retire is available up to 95% LTV on a repayment basis and up to 80% LTV on interest only. Lower LTV limits apply at higher loan amounts.

Can joint applicants obtain a later-life mortgage from Hodge?

Joint applicants may be considered. Beyond age 87, the lender assesses whether the mortgage would remain affordable after the death of one borrower, factoring in survivor’s pension and life cover.

Written By James Blackler

James Blackler founded Oakstead Finance to give complex cases the attention they're usually denied. Based at Arding & Hobbs in Clapham Junction, he works with London buyers and homeowners whose applications need more than a standard lender checklist; complex income, tight timelines, or a structure most brokers won't take the time to get right.

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