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Retirement Interest Only Mortgages

Your options for retirement in Guernsey

Published on: 8 January 2021


Over 55 and looking for a mortgage? We could have the solution for you. If you’re in your retirement and looking to borrow for a number of reasons, our range of products could help. With over 160 years’ experience, we’re here to support you now, and in the future.

Available exclusively through SPF Private Clients for Guernsey residents, our range of retirement mortgages are designed to give you more choice when it comes to your home. We have two ranges available, Retirement Mortgages and Retirement Interest Only Mortgages.

Retirement Mortgages

Retirement Mortgages work like a conventional mortgage; however, they’re available to applicants aged 55 to 85. Available on an interest only or repayment basis, they could be right for those looking to purchase a new home, remortgage, or release funds from their property for many reasons, including helping children or grandchildren onto the property ladder or funding home improvements*.

RIO Mortgages

Retirement Interest Only Mortgages (RIO) are available to Guernsey residents aged 55 and over and could be an alternative to equity release. A RIO Mortgage could be right for you if you want to remain in your home with no plans to downsize.

Because RIO mortgages are only available on an interest only basis, you’ll need to be able to maintain the interest payments throughout the mortgage term, but you won’t pay back the capital loan itself until a life event occurs, for example going into long-term care or passing away.

For each mortgage range, we have a set of eligibility criteria you’ll need to meet, including minimum income requirements and minimum property values. Your advisor at SPF will be able to talk you through this. You can get in touch with SPF by calling 01481 715234 or emailing

*Depending on the amount of the loan advance, documented evidence may be required to support the loan purpose.