A Retirement Interest‑Only (RIO) mortgage is available from age 50 and is designed for people who are still working or already retired. With no fixed end date, it offers long‑term stability — meaning you may never need another mortgage.
The loan is repaid from the sale of the property when you pass away or move into long‑term care.
Who a RIO Mortgage Can Help
A RIO mortgage can be a flexible solution if you are looking to:
- Buy a new home
- Remortgage an existing loan
- Release funds for home improvements, lifestyle needs, or to support family (e.g., Bank of Mum and Dad)
- Support inheritance tax planning and wider wealth management
- Find an alternative to Equity Release, especially where:
– A higher loan amount is required
– There is income available to cover monthly interest payments
– They want to avoid the compounding effect of roll‑up interest
