Many of us are living longer and, with the freedom of choice now surrounding access to personal pensions, more and more people are remortgaging and accessing the equity in their homes and turning it into cash for various reasons. Or maybe you just need that last mortgage to help you purchase your dream retirement home.
With these things in mind, we offer the option of interest-only and retirement interest-only (RIO) mortgages to help you in a cost-effective way, while still ensuring a legacy for those you love.
You’re not in a position to pay off your mortgage in full at retirement but wish to remain in your home
You have built up a significant amount of equity in your home and wish to unlock some of it to support your chosen retirement
You want to access the cash in your home to support your retired lifestyle, but still be able to leave a legacy for those you love
Your current lender imposes an upper age limit and you want to remain in your home without having to pay off your mortgage until there is a life-changing event
For a Decision in Principle, or Lending Certificate, confirming how much we would be prepared to lend to you
Below is a summary of the interest rates that apply to our mortgages. Speak to a member of our friendly team for a personalised mortgage quote
|Account||Term||Rate||Reverting to SVR** for the remainder of the term, currently||APRC - The overall cost for comparison is||Maximum loan to value (Variable)||Fees||Other features|
|Retirement Interest-only||3 Years||2.99%||4.99%|
|4.8%||55%||£495 with LPA*, £795 without LPA*||More|
|4.7%||65%||Completion fee - £NIL||More|
|4.4%||65%||Completion fee - £NIL||More|
*Lasting Power of Attorney. **Standard Variable Rate.
Our caring team will go out of their way to get to know your circumstances, and wherever possible say ‘yes’