Retirement interest only mortgages, or RIOs, can be used for most purposes. Depending on the provider, the loan is repaid when the plan comes to an end when you (and any other applicant) either pass away or move into long-term care. Typically, your house will then be sold and the mortgage provider will take their money from the sale proceeds. The remainder goes to your estate.
Why choose a retirement interest only mortgage?
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.
Specialist advice, tailored to you
Whatever your motivation, we tailor our advice to suit your needs and advise on a range of mortgages available to those over 55 and in retirement.
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 mortgage for you.