Retirement Interest Only (RIO)

Who is it for?

Our Retirement Interest Only (RIO) mortgage, available from age 50, is open to your client if they're working or retired.

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

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

A RIO could be suitable for various needs including:

  • Purchasing a new property
  • Remortgaging an existing loan
  • Generating funds for home improvements, lifestyle or to start a Bank of Mum and Dad
  • IHT planning and wealth management
  • Those looking for an alternative to Equity Release products due to requirement of higher loan amount, income to service interest or to avoid the impact of roll-up compounding interest.

Key Points:

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    Up to 75% LTV:

    Borrow up to 75% loan to value

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    50 years minimum age:

    50 years minimum age (at application). No maximum age.

    For joint borrowers, the youngest borrower can be minimum 45.

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    Widest range of fixed rates:

    2, 5 and 10 year fixed and fixed for life currently available

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    Up to 1.10% gross proc fee:

    We have 3 proc fee options. Choose from:

    • Our Standard Proc Fee of 0.55% gross upfront
    • Our Ongoing Proc Fee of 0.55% gross upfront plus an additional 0.13% gross every year thereafter, for up to 15 years
    • (Fixed for Life products only) Our Enhanced Proc Fee of 1.10% gross upfront 

    Our Ongoing Proc Fee and Enhanced Proc Fee require an annual customer care call.

Product Rates


These documents are all related to Retirement Interest Only

Fixed Rate Term
Interest Rate
Reversion Rate
Product Fee