We’ve launched our Retirement Interest Only mortgage range. CuRIOus about the opportunity?
Our Retirement Interest Only (RIO) mortgage range is designed to meet a number of important needs your customers may face in retirement and is only available through our intermediaries. As an experienced lender of interest only we are delighted to be extending our expertise into this area.
Following extensive research into borrowers’ needs as they age, and how best they can be supported in later life, we’re the first national high street lender to enter this new market. We’re also the first to commit to rewarding you for RIO product transfers.
Whether your customer wants to release equity without the interest roll-up, maintain or take out a new loan or have come to the end of an interest only mortgage a RIO mortgage could help them plan for their retirement. The mortgage will be repaid on a specified life event, which can include the sale of property, moving into residential care or death of the borrower. Our full criteria can be found on our website.
As of 30th July our 3 RIO mortgages will be available – fixed rate 2, 3 or 5 years, up to 55% LTV for borrowers between the ages of 55 and 80.
For more information visit our dedicated RIO webpage or speak to your BDM.
This information is for use by FCA authorised intermediaries only and must not be distributed to potential borrowers.
