Retirement Interest Only

Our Retirement Interest Only (RIO) mortgages could be an alternative to equity release. Available to those aged 55+ on an interest only basis, if you’re approaching retirement and looking to raise additional finance, our range could be right for you.

Unlike a 55+ Retirement Mortgage, a RIO mortgage has no maximum term and the capital you borrow will only be repaid when a life event occurs, for example, going into long-term care or passing away. Our expert mortgage team are available to discuss your circumstances in more detail and advise you on whether our range is right for you.

Important information

The Stamp Duty incentive is being withdrawn on 31 March 2021. This means that you need to ensure there is sufficient time for your conveyancer to complete all the legal work required to enable your mortgage to complete before the incentive is withdrawn.

It is in your own interest to instruct your conveyancer at the earliest opportunity so that you are in the best position to meet this deadline. Please note that any costs incurred for starting the legal process early will need to be met by you if the application does not progress to completion.

It is important to note that if your purchase does not complete by 31 March 2021 when the Stamp Duty incentive is withdrawn, you will be liable to pay any Stamp Duty costs related to your purchase.