If your clients are looking for mortgage lending in later life, we can help. 

Retirement interest only (RIO) mortgages

Our RIO product range allows your client to use the sale of their property as their repayment strategy (provided they are receiving pension income and have a minimum of 40% equity in the property).

In contrast to our standard later life lending products, our RIO mortgages have no fixed term, and can run until a life changing event occurs.

If your client wishes to gift some equity to a family member, enjoy some holidays or give their home a face-lift with some home improvements, up to 25% of the property value can be released for these purposes.

Joint applications for a RIO mortgage can be considered when both applicants are aged 55 or over, and can satisfy affordability checks individually.

Standard later life lending products

Everyone’s needs and circumstances are different. With our standard later life lending products, your clients can borrow up to their 95th birthday, meaning your clients can borrow into retirement or if they’re already retired.

With our standard later life products, if both applicants are retired but cannot prove affordability in sole name, applications will be considered where there is enough equity available to downsize to a two bedroom flat/house within 5 miles of the mortgage property.

Lending on retirement properties

And if they’re looking to purchase a purpose built retirement property, we can help. Our later life lending range allows your clients to buy their retirement home.

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Call us today to discuss your case

Speak to our Telephone Business Development Team on 0121 521 4000 or email us and we'll call you back! Alternatively, you can find out who your local Business Development Manager is here.

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