What’s best for your client?
Since launching our Retirement Interest Only (RIO) range in 2018, one of the most common questions we hear you ask is, ‘What’s the difference between RIO and Older Borrower?’. We’ve put some key features below to help you decide which product is best for your retired clients…
RIO
Spotting the difference for your clients:
- For clients looking for an interest only mortgage aged 55 or over
- No plans to downsize and who wish to remain in their home
- To be repaid when a life event is triggered (i.e. death or long-term care)
- No maximum term
- Must be affordable to both applicants (if joint)
- Interest only up to 50% LTV
Older borrowers
Spotting the difference for your clients:
- For clients looking for an interest only or repayment mortgage aged 55 or over
- They are planning on downsizing in the future
- Clients who have alternative repayment vehicles in place, including downsizing
- Interest only, repayment or part and part up to 60% LTV
Get in touch
For more information, get in touch with our Intermediary Support Team on 01282 440583.
Get in touch with your BDM: k.broome@themarsden.co.uk.
