The top places to retire in the UK
Retirement often gives us the chance to slow down, enjoy life at our own pace, and finally choose a place to call home that suits our lifestyle.
For some, that means staying close to family and familiar surroundings, while for others, it’s an opportunity to relocate somewhere new with more green space, better healthcare access, or simply a lower cost of living.
To understand Brits' desires and requirements for when they retire, we surveyed 1,000 UK homeowners aged 45 and over.
Uncovering Brits’ retirement plans
The majority of respondents (87%) said they were planning to stay in the UK to retire, with almost half (49%) planning to stay in the same town or city, and 38% planning to relocate elsewhere in the UK. 13% said they planned to move overseas for retirement.
Practicality also shapes many people’s retirement plans, with 41% stating they’d prefer a more accessible property type, such as a bungalow, later in life.
When asked what they value most, respondents prioritised an affordable cost of living (57%) above all else, followed by being close to family (27%). Access to green spaces (13%) and convenient healthcare (9%) were also important factors. These priorities formed the basis of our ranking.
The best places to retire in each region
To explore which areas offer the best lifestyle for retirees, we ranked places across each region in England based on life satisfaction, housing affordability, healthcare provision and access to green spaces.
Use the map to discover the best places to retire in each UK region.
Where in the UK has the most over 65s?
| Region | |
|---|---|
| South West | 26.7% |
| Wales | 25.3% |
| Scotland | 24.4% |
| East Midlands | 24.2% |
| West Midlands | 23.6% |
| South East | 23.3% |
| East of England | 23% |
| North East | 23% |
| Yorkshire & the Humber | 22.1% |
| North West | 21.8% |
| Greater London | 14% |
The UK’s retirement population isn’t spread evenly across the map. According to recent ONS data, the South West leads the way, with more than a quarter (26.7%) of its residents aged 65 and over. Wales and Scotland follow closely behind, at 25.3% and 24.4% respectively, reflecting a strong presence of older communities outside the major metropolitan hubs.
By contrast, Greater London stands out for its youthful demographic, with just 14% of its population in the 65+ bracket – significantly below the national average. Regions such as the East Midlands (24.2%) and West Midlands (23.6%) sit in the middle, while the North West and Yorkshire and the Humber hover around 22%.
Retirement interest-only (RIO) mortgage overview
Whether you are downsizing into a new house or relocating, there is a range of mortgage options available for older borrowers. Whilst there is no upper age limit for applying for a mortgage in the UK, finding a mortgage for retired applicants can prove more difficult.
This is because you may have less time to pay it off, and your income might drop in retirement, meaning you could struggle with the monthly mortgage payments.
There are, however, specialised later life mortgages that are curated especially for older people and retirees, including retirement interest-only (RIO) mortgages. Despite this, almost nine in ten (86%) homeowners over the age of 45 are unaware of these.
To help close this knowledge gap, David Wilson Homes spoke to mortgage expert Terry Higgins, from The New Homes Group, who explains what these mortgages are and how they can be of benefit to retirees.
What is a RIO mortgage?
A retirement interest-only (RIO) mortgage is designed for older borrowers, typically aged 55+ (with some lenders accepting 50+), who may find that a standard mortgage does not meet their needs. As securing a traditional mortgage can become more difficult later in life, a RIO mortgage provides an alternative, either to borrow against your home in retirement or as an alternative to equity release.
Like a standard interest-only mortgage, your monthly repayments only cover the interest on the amount borrowed and the loan amount stays the same. This is usually repaid when the property is sold, when the owner enters long term care, or when the owner’s estate is settled.
As a result, this type of product can avoid the build-up of compound interest that comes with some equity release products.
How does an RIO work?
RIO mortgages typically have no fixed end date and continue for life which removes the pressure of remortgaging at a later date. As terms and conditions vary between lenders, it is important to check the details carefully before committing.
Who can get a RIO mortgage?
Lenders set their own rules on who can apply for an RIO, but in most cases you need to:
- Be 50 - 55+ years old
- Be mortgaging a property that is your main home
- Have a minimum amount of equity in your home
- Prove you can afford the monthly interest repayments now and after retirement
How to get a RIO mortgage?
Some high street banks and building societies offer RIO mortgages, but choice is more limited than for standard mortgages. If you are nearing the end of an interest-only deal and wish to remain in your home, you may be able to discuss extending the term into retirement with your existing lender.
The pros and cons of an RIO mortgage
Pros:
- Lower monthly payments – you only pay the interest, which keeps outgoings manageable in retirement
- No need for a repayment plan – the loan is repaid when the property is eventually sold
- Helps you stay in your home – access equity without downsizing and without interest rolling up like with a lifetime mortgage
- Inheritance potential – the amount you owe stays the same, so when the home is sold, more of its value is likely to be left for your family
Cons:
- Equity can reduce – because the loan doesn’t get smaller, your share of the property may reduce over time
- You must pass affordability checks – lenders still assess your ability to maintain monthly payments, which can be a barrier for some older borrowers
- Variable interest risk – most RIO rates can rise, increasing monthly costs
- Limited choice – fewer lenders offer RIOs compared with standard mortgages
Thinking about retiring in the UK? Explore our latest developments across the UK and take advantage of the latest offers.
Disclaimer: This guide is for general information purposes only and does not constitute financial, legal or mortgage advice. To learn more about the subjects covered here, please seek independent professional support.
Methodology
To create our ranking, we drew on trusted national data sources to capture different aspects of quality of life across different regions in the UK.
Wellbeing was measured using ONS life satisfaction scores. Housing affordability was assessed through the ONS UK House Price Index. For healthcare, we used official NHS data on GP surgeries and patient numbers. Finally, greenspace was measured using OpenStreetMap data to identify the amount of public greenspace in each local authority.
We then used these measures to create a weighted ranking and to create a consistent dataset that allowed us to compare and rank areas across the UK.
A speed survey of 1,000 UK respondents (age 45+) was conducted in September 2025.
Disclaimer: This ranking compares areas that vary in size and administrative setup, including counties, unitary authorities and metropolitan districts. Because these places cover different geographies and are structured differently, the results should not be seen as direct like for like comparisons.
The findings reflect how each area performs based on the specific datasets used. They are not recommendations or guarantees that any location is the best choice for retirement. Every person’s needs, priorities and circumstances are different, so anyone considering a move should carry out their own research and seek professional advice where needed.