Retirement interest only mortgages are a recent addition to the range of mortgages on offer to the over 55's. Mortgages into retirement tend to represent a niche area of mortgage lending despite the large demand for these types of mortgages from customers approaching their retiremnet age. For many customers we find that approaching typical retirement age does not actually lead to retirement at all and, for the income it generates and for the satisfaction they gain from working, income can continue far beyond state pension age.
For those already in reciept of pension income ro that wil have a string pension income upon retiremnet, a retirement Interst only mortgage or 'RIO' mortgage can represent a viable long term solution to their mortgage needs.
Is an interest only mortgage an option?
Retirement interest only mortgages are only available on interest only mortgage terms
Is downsizing an acceptable strategy?
RIO mortgages are typically set up with a term running until a life event forces the sale of teh property to repay the mortgage. Sale of the property is the only acceptbale repayment strategy.
How can we help?
Our mortgage advisers are fully qualified and have the knowledge and experience to help you to get the right mortgage for your circumstances. Complete our short enquiry form and one of our expert advisers will be happy to explain your options.
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