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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Retirement Interest Only
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