A fixed rate interest-only mortgage available to ages 55+

A fixed interest rate that will never increase

So you’ll always know exactly what your monthly payment is.

Borrow up to 8.5 times your annual income

Potential to borrow more based on your income than you can with other mortgage providers, subject to affordability checks.

Interest-only monthly payments

You only pay the interest each month, and it will never go up.

Only available to those over 55

The Retirement Interest Only Mortgage (sometimes called a ‘RIO Mortgage’) is available to people over 55. It’s a loan secured against your home. You pay the interest each month, which means the amount you owe doesn’t increase over time.

You can use it for most purposes (including paying off an existing mortgage). What’s more, you don’t have to repay the loan until you, or the last remaining borrower, die or move permanently into long-term care.’

Lifetime Mortgages

Offering some flexibility, Lifetime Mortgages can operate in a couple of ways; you may wish to make reduced monthly payments, in line with your income, or you can even suspend all monthly payments with the final sum being paid off at the end of the mortgage. 

Interest Only Mortgages

Whether you already have an Interest Only Mortgage which is coming up for repayment soon or wish to consider taking out a new Interest Only Mortgage, we can help.    If you are struggling to find a suitable product, we will search the whole of the market until we track down the ideal mortgage for you.

Retirement Mortgages

Many of our clients approach us when they are planning ahead to retirement or have already retired and looking to make changes to their household mortgage. Because of our specialism in this sector of the market, we are able to locate the perfect product to suit them.

Lifetime Mortgages

When clients approach us looking to change their mortgage due to retirement, they very often will ask us what a Lifetime Mortgage is.  We tell them that in many ways, it is a lot like a traditional mortgage in that you borrow money against the value of your property.  However, the big difference is that they are aimed at property owners over the age of 55 and they do remain current for the rest of your life – which is why they are generally referred to as Lifetime Mortgages.

Interest Only Mortgage

At one time, Interest Only Mortgages were quite easy to find but since then, lenders have withdrawn many products from the market. This makes it now extremely difficult to take out a new Interest Only Mortgage.  Those that are on offer have very strict conditions such as clients being over the age of 65.

Retirement Mortgages for Pensioners

Retirement Mortgages are particularly popular with clients that are not looking for equity release but purely to re-shuffle and re-plan their finances due to their changing financial situation upon retirement.

retirement mortgage advice

At Retirement Mortgages, our primary focus is solely on the provision of mortgages for pensioners. If you are looking for a professional and reputable advisor to help with your choice of mortgages into retirement or equity release mortgages, we are here to help.  You may be already retired or nearing retirement.  Either way, the team at Retirement Mortgages are on hand to provide comprehensive information and guidance.