What’s the difference?
Retirement Interest Only (RIO) vs. our existing Older Borrower range
We launched RIO in support of 55+ borrowers last week and you may be asking so what’s the difference for your clients? It’s a new product set with different criteria but what do you need to know to place your client?..
Retirement Interest Only (RIO)
Perfect for…
Clients over the age of 55 who are looking for an interest only mortgage with no plans to downsize and wish to remain in their home
To be eligible:
- Over the age of 55
- Looking for re-mortgage or house purchase
- Loans up to £750,000 (if above, please refer)
- Where it differs:
- To be repaid when a life event is triggered (no max term)
- Be affordable to both applicants (if joint)
- Minimum loan of £30,000
- Interest only to 50% LTV
For more information, get in touch with our Intermediary Support Team on 01282 440583 or click here to visit our website or get in touch with your BDM: k.broome@themarsden.co.uk
