If you're over 55 and looking for a mortgage, we could have the solution for you...

Our Retirement Interest Only Mortgages could be an alternative to equity release. Available to those aged 55 and over, a RIO mortgage could be right for you if you want to remain in your own home with no plans to downsize. Because RIO mortgages are only available on an interest only basis, you will need to be able to afford the monthly interest payments, but you will not pay back the loan itself until a life event occurs, for example, going into long-term care or passing away. Because you are paying the interest off your loan monthly, there is no interest roll-up which means the amount repayable when the life event occurs will be the cost of the original loan, helping to protect the remaining equity in your property.

Could I be eligible for a RIO Mortgage?

If you or your partner are aged 55 or over, you could be eligible for a RIO mortgage. You’ll need to speak to our team of advisors, but as a guide, you could be eligible for a RIO mortgage if;

– You’re looking to borrow at least £30,000
– Your property is worth at least £150,000
– You want to borrow a maximum of 55% of your property value
– You can afford the monthly interest payments (individually if applying for a joint mortgage)
– You are a resident of England or Wales

If you’d like to find out more about, our UK-based team of advisers are here to help. They offer free mortgage advice over the phone to help find the product that’s right for you. Call 01282 440537* to discuss your options. No visit to a Marsden branch required.

We’ve been helping our members to own their own homes since 1860, so we understand the things that are important when looking for a mortgage provider.

We’ll be straight forward

Our team are here to support you. If a product isn’t right for you, we’ll let you know. If you want more information, or even if your family want to know a bit more about our mortgages, we’ll happily talk through the options available.

You won’t pay anything unless you choose to proceed

Our mortgage advice is free, which means you’ll only pay a fee if you choose to proceed with your mortgage. Some of our products are fee free, but for those that do have fees – the fees can be added on to your mortgage balance, as long as the balance doesn’t exceed our maximum loan to value.

Ongoing support as a Marsden borrower

We’ll contact you as you approach your product maturity to offer you options, so you won’t be locked in to your current product. Our team of advisors are based at our Principal Office in Lancashire and are available over the phone to discuss any questions you have about your product throughout its duration, or if your circumstances change.