Every lender will have different limits on how much you can borrow against your property.
Other factors lenders will take into consideration when you’re applying for retirement interest only loans are things such as property value, income and loan size. The amount you’re able to borrow will be based upon what you can afford, your property value and your age. Lenders will look at your income and outgoings, as well as pensions, savings and investments.
Use our free mortgage calculator
to see how much you may be able to borrow or request a callback
from one of our expert mortgage advisers.
Why choose retirement interest only mortgages?
If you thought you were too old for a mortgage or you can’t find a conventional mortgage to meet your needs, we can help you with impartial and tailored advice to help take the stress out of later life borrowing.
As a nation, we’re all living and working for longer than we ever have done, but successfully getting a mortgage when you hit retirement age can often be tough. However, there are lenders out there who are taking a much more considered approach to lending to older people.
You might be looking to take out a retirement interest only mortgage because you want to:
- Get a mortgage term extension but are unable to
- Buy a retirement property that suits your needs better than your existing home.
- Release funds from your property to top up your pension income.
- Gift money to loved ones for a variety of reasons.
Specialist advice tailored to you from the experts
Whatever your motivation for looking into RIO mortgages, we tailor our advice to suit your needs and advise on a range of mortgages available to those over 50.
Even if your own bank or building society are unable to offer you a new mortgage or extend your existing loan, our specialist mortgage advisers can search the whole market to find the most suitable retirement interest only mortgage for you. Book an appointment
with one of the team today or call 0808 252 9170
Want to better understand your options before getting in touch? Put your details into our later life mortgage finder
to see what could be available to you.