Retirement Interest Only Mortgages
Exclusively available to Guernsey residents through SPF Private Clients, our Retirement Interest Only (RIO) mortgages are available to those aged 55 and over.
Available on an interest-only basis, a RIO mortgage could be right for you if you want to release funds from your property but want to remain in your own home with no plans to downsize.
You will need to be able to afford the monthly interest payments throughout the mortgage term, but you will not pay back the loan itself until a life event occurs, for example, going into long-term care or passing away.
You’ll find a guide to eligibility on this page, but to view our mortgage rates, click the button below.
There is a range of eligibility criteria you’ll need to meet. SPF will be able to talk you through this in more detail, but as a guide, you could be eligible for a RIO mortgage with the Marsden if;
- You’re looking to borrow at least £30,000
- You’re looking to borrow a maximum of £750,000
- Your property is worth at least £200,000
- You’re looking to borrow up to 55% LTV
- You have an annual income of at least £17,500 (individually if applying for a joint mortgage)
- Both applicants are aged 55 or over
- You’re a Guernsey resident
RIO mortgages could be an option for those looking to release funds from their property for a variety of reasons, from helping loved ones onto the property ladder, to carrying out home improvements. Please note that depending on the amount of the loan advance, documented evidence may be required to support the loan purpose.
SPF Private Clients are the largest and longest running mortgage broker in Guernsey, with access to the entire mortgage market. SPF provide expert mortgage advice to the residents of Guernsey and can access the full range of mortgage solutions from the Marsden.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE