Retirement Interest Only (RIO)


A retirement interest-only mortgage is very similar to a standard interest-only mortgage, with two key differences. 

  • The loan is usually only paid off when you pass away, move into long term care or sell the house.
  • You only have to prove you can afford the monthly interest repayments.

While there’s no minimum age requirement, retirement interest-only mortgages are generally aimed at older borrowers, such as the over 55s who might find them easier to qualify for than a typical interest-only mortgage.


In this way, they’re similar to types of equity release schemes like a lifetime mortgage, where you pay-off the original capital and possibly any interest when you move into long-term care or pass away. Please see Equity Release tab for more information.

With a retirement interest-only mortgage, you only pay off the interest each month, so your monthly repayments will be lower.


This means you should be more likely to have something to pass on as an inheritance, or pay for long-term care.


I offer a no obligation initial consultation at a day/time convenient to you.


Please call 07718 278910 or alternatively, go to the contact tab to arrange your appointment.


Equity release will reduce the value of your estate and can affect your eligibility for means tested benefits.