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Retirement interest only mortgages

Introducing H&R for Intermediaries’ Retirement Interest Only (RIO) mortgage

The discount for term product is designed to provide peace of mind to borrowers thanks to never having to pay SVR or switch products unless they want to. If their circumstances do change, they will not have to pay any ERCs to exit the product. The mortgage is also available with an offset savings facility.

This mortgage is available at up to 60 per cent LTV with a maximum loan of £500,000.  Capital raising is accepted. Applicants must be at least 55 years old but there is no maximum age. Valuation is free on properties worth up to £1m.

All sustainable sources of income into retirement will be considered and the loan will be repaid from the sale proceeds of the property after a specified life event such as death or moving into long-term care.

Please ensure you visit our criteria pages to see full details – we have a section dedicated to RIO mortgages which can be selected from the Topics menu.

Please contact our Business Development team if you have an application you would like to discuss.