Retirement Interest Only

Retirement Interest Only (RIO) mortgages are designed for people aged 55 and over who want to borrow against their home in later life, while making monthly interest payments, with no fixed end date to repay the mortgage back.

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What is a Retirement Interest Only (RIO) mortgage?

With a Retirement Interest Only Mortgages (also known as RIO) you only pay the interest each month.

A RIO mortgage allows you to borrow against your property and only pay back the interest incurred on the loan each month.

There is no fixed end date to repay the loan back. Instead, the mortgage continues until a significant life events occurs, such as the sale of the property, the homeowner(s) passes away or moves into long term care.

We offer variable and fixed interest rate RIO mortgages.

Who's eligible for a Retirement Interest Only mortgage?

You may be eligible for a RIO mortgage if you are:

Over 55 years old
Retired
Able to demonstrate you can afford the monthly interest payments and
Under 85 years old at the time of application (youngest applicant)

All applications are subject to affordability checks and lending criteria.

Want to learn more about Retirement Interest Only mortgages?

A RIO mortgage is a long term financial commitment, and it's important to understand how it may affect your finances and estate.

Read our Retirement Interest Only guide to find out more about:

Reasons you might consider a RIO mortgage
Affordability and income considerations
Flexibility and early repayment options

If you’d like to speak to one of our Mortgage Advisers about a Retirement Interest Only mortgage you can book an appointment or call us on 0345 601 3344.

Or you can view our full range of mortgages below.

Which mortgage is right for you?

2 Year Fixed Rate Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.59%	7.39%	7.3% APRC	90%	£0	£0	£400	£999	Early Repayment Charges Apply	details

Early repayment charges - 2% in year one; 1% in year two.

2 Year Fixed Rate Mortgage - 80% LTV

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.44%	7.39%	7.3% APRC	80%	£0	£0	£400	£999	Early Repayment Charges Apply	details

Early repayment charges - 2% in year one; 1% in year two.

5 Year Fixed Rate Mortgage - Existing mortgage customers

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.54%	7.39%	6.8% APRC	80%	£0	£0	£400	£0	Early Repayment Charges Apply	details

Early repayment charges - 5% in year one; 4% in year two; 3% in year three; 2% in year four; 1% in year five.

2 Year Discounted Variable Rate Mortgage - 80% LTV

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
4.74%	7.39%	7.1% APRC	80%	£0	£0	£0	£499	Early Repayment Charges Apply	details

Early repayment charges - 1% in year one; 1% in year two.

2 Year Discounted Variable Rate Mortgage - No ERC

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
4.99%	7.39%	7.2% APRC	80%	£0	£0	£0	£999	Early Repayment Charges Apply	details

Early repayment charges - There are no early repayment charges.

2 Year Discounted Variable Rate Mortgage (1)

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.09%	7.39%	7.2% APRC	90%	£0	£0	£0	£999	Early Repayment Charges Apply	details

Early repayment charges - There are no early repayment charges.

Low Deposit 2 Year Fixed Rate Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.79%	7.39%	7.3% APRC	95%	£0	£0	£0	£499	Early Repayment Charges Apply	details

Early repayment charges - 2% in year one; 1% in year two.

Low Deposit 5 Year Fixed Rate Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.89%	7.39%	7.0% APRC	95%	£0	£0	£0	£499	Early Repayment Charges Apply	details

Early repayment charges - 5% in year one; 4% in year two; 3% in year three; 2% in year four; 1% in year five.

Low Deposit 2 Year Discounted Variable Rate Mortgage - No ERCs

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.34%	7.39%	7.2% APRC	95%	£0	£0	£0	£499	Early Repayment Charges Apply	details

Early repayment charges - There are no early repayment charges.

Shared Ownership 2 Year Fixed Rate Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.79%	7.39%	7.3% APRC	95%	£0	£0	£200	£499	Early Repayment Charges Apply	details

Early repayment charges - 2% in year one; 1% in year two.

Shared Ownership 5 Year Fixed Rate Mortgage - Existing mortgage customers

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.99%	7.39%	7.0% APRC	95%	£0	£0	£200	£0	Early Repayment Charges Apply	details

Early repayment charges - 5% in year one; 4% in year two, 3% in year three, 2% in year four, 1% in year five.

Shared Ownership 2 Year Discounted Variable Rate Mortgage - No ERCs

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.09%	7.39%	7.2% APRC	95%	£0	£0	£200	£499	Early Repayment Charges Apply	details

Early repayment charges - There are no early repayment charges.

Interest Only 2 Year Fixed Rate Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.44%	7.39%	7.4% APRC	70%	£0	£0	£400	£1999	Early Repayment Charges Apply	details

Early repayment charges - 2% in year one; 1% in year two.

Interest Only 5 Year Fixed Rate Mortgage - Existing mortgage customers

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.54%	7.39%	7.0% APRC	70%	£0	£0	£400	£0	Early Repayment Charges Apply	details

Early repayment charges - 5% in year one; 4% in year two, 3% in year three, 2% in year four, 1% in year five.

Interest Only 2 Year Discounted Rate Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
4.74%	7.39%	7.3% APRC	70%	£0	£0	£0	£999	Early Repayment Charges Apply	details

Early repayment charges - 1% in year one; 1% in year two

Interest Only 2 Year Discounted Rate Mortgage - NO ERC

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
4.99%	7.39%	7.4% APRC	70%	£0	£0	£0	£1999	Early Repayment Charges Apply	details

Early repayment charges - There are no early repayment charges.

Credit Assist Mortgage - 2 Year Fixed Rate

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.74%	7.39%	7.4% APRC	85%	£0	£0	£400	£999	Early Repayment Charges Apply	details

Early repayment charges - 2% in year one; 1% in year two.

Credit Assist Mortgage 3 Year Discounted Variable Rate

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.34%	7.39%	7.1% APRC	85%	£0	£0	£400	£999	Early Repayment Charges Apply	details

Early repayment charges - There are no early repayment charges

Credit Assist 3 Year Discounted Variable Rate Buy to Let Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.89%	8.44%	8.0% APRC	80%	£0	£	£800	£999	Early Repayment Charges Apply	details

Early repayment charges - There are no early repayment charges

Credit Assist 5 Year Fixed Rate Buy to Let Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.94%	8.44%	7.5% APRC	80%	£0	£0	£800	£999	Early Repayment Charges Apply	details

Early repayment charges - 5% in year one; 4% in year two; 3% in year three; 2% in year four; 1% in year five.

Credit Assist Extra Mortgage - 2 Year Fixed Rate

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.99%	7.39%	7.4% APRC	70%	£0	£	£400	£999	Early Repayment Charges Apply	details

Early repayment charges - 2% in year one; 1% in year two.

Credit Assist Mortgage Extra - 3 Year Discounted Variable Rate

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.94%	7.39%	7.3% APRC	70%	£0	£0	£400	£999	Early Repayment Charges Apply	details

Early repayment charges - There are no early repayment charges

Help to Buy 2 Year Fixed Rate Mortgage - Existing mortgage customers

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.94%	7.39%	7.3% APRC	75%	£0	£0	£200	£0	Early Repayment Charges Apply	details

Early repayment charges - 2% in year one; 1% in year two.

Help to Buy 2 Year Discounted Variable Rate Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
4.84%	7.39%	7.1% APRC	75%	£0	£0	£0	£299	Early Repayment Charges Apply	details

Early repayment charges - 1% in year one; 1% in year two.

2 Year Fixed Rate Buy to Let Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.54%	8.44%	8.2% APRC	80%	£0	£800	£800	£999	Early Repayment Charges Apply	details

Early repayment charges - 2% in year one; 1% in year two.

5 Year Fixed Rate Buy to Let Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.64%	8.44%	7.4% APRC	80%	£999	£800	£800	£800	Early Repayment Charges Apply	details

Early repayment charges - 5% in year one; 4% in year two; 3% in year three; 2% in year four; 1% in year five.

2 Year Discounted Variable Rate Buy to Let Mortgage (No ERCs)

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.24%	8.44%	8.1% APRC	80%	£0	£0	£0	£999	Early Repayment Charges Apply	details

Early repayment charges - There are no early repayment charges.

Holiday Let 5 Year Fixed Rate Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.69%	8.44%	7.4% APRC	80%	£0	£800	£800	£999	Early Repayment Charges Apply	details

Early repayment charges - 5% in year one; 4% in year two; 3% in year three; 2% in year four; 1% in year five.

Holiday Let 2 Year Discounted Variable Rate Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
4.99%	8.44%	8.0% APRC	80%	£0	£0	£800	£999	Early Repayment Charges Apply	details

Early repayment charges - 1% in year one; 1% in year two.

Expat 5 Year Fixed Rate Buy to Let Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.89%	8.44%	7.5% APRC	80%	£0	£800	£800	£999	Early Repayment Charges Apply	details

Early repayment charges - 5% in year one; 4% in year two; 3% in year three; 2% in year four; 1% in year five.

Expat 2 Year Discounted Variable Rate Buy to Let Mortgage

Initial rate	Standard variable rate, currently	Overall cost for comparison	Max LTV	Application fee	Product switch fee	Further advance fee	Completion fee
5.14%	8.44%	8.1% APRC	80%	£0	£0	£800	£999	Early Repayment Charges Apply	details

Early repayment charges - 1% in year one; 1% in year two.