Retirement Interest Only (RIO)

Who is it for?

Despite the name, our Retirement Interest Only (RIO) mortgage is suitable whether you're working or retired, as long as you're 50 or older.

It has no end date so you may never need another mortgage.

The mortgage is repaid from the sale of your home when you pass away or move into long-term care.

A RIO could be suitable for various needs including:

  • Purchasing a new property
  • Re-mortgaging an existing loan
  • Generating funds for home improvements
  • To start a 'bank of mum and dad'
  • Inheritance tax (IHT) planning and wealth management
  • If you're looking for an alternative to Equity Release. This could be because you need a higher loan amount, income to service interest or to avoid the impact of roll-up compounding interest.

Key Points:

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    Borrow up to 75% loan to value:

    Borrow up to 75% of the value of your home.

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    50 years minimum age:

    You need to be at least 50 years old when you apply, and there's no maximum age.