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Monday - Friday 9.00am - 5.00pm

0330 123 1073

Mon - Thu 9am - 5pm
Fri 9am - 5pm
Sat 9am - 1pm

Retirement Interest Only mortgages

** Currently restricted to selected intermediaries**

Our RIO mortgage products enable your later life clients aged 55 and over to borrow funds up to a maximum of 50% LTV, provided they have at least £150k equity in their property. We have no maximum age or specified term, so borrowers who take out a RIO mortgage are able to make a monthly interest payment without needing to repay the capital until a significant life event - such as a move into long-term care or death of the last remaining borrower.

Our RIO deals are available for both purchase and remortgages, and for many purposes such as releasing funds to:

  • Pass onto children or grandchildren, gifting them funds to help them get onto the property ladder
  • Extend or improve their existing home
  • Purchase an additional property to retire into
  • Buy a static caravan or a motor home

If you are unsure whether you have access to our range of RIO mortgages please call us on 0330 123 1073 (option 1).

RIO 2.75% 2 Year Discount Rate 50% LTV

  • STANDARD VARIABLE RATE of 5.24% with a discount of 2.49% for 2 years from completion, then reverting to 3.50% (Ipswich SVR minus 1.74%) for 36 months then changing to Ipswich Standard Variable Rate (currently 5.24%)
  • 4.2% APRC
  • For remortgage up to 50% LTV
  • Available to selected intermediaries only

11123, 67175

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£500 £199 Purchase: based on property valuation. Remortgage: FREE - £35 £500k

Unlimited fee-free overpayments
No early repayment charge

For remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

Restricted to selected intermediaries only. If you are unsure whether you have access to this product please give our intermediary sales team a call on 0330 123 1073.


Click here to download the RIO Mortgage Rate Guide.

How to apply

Our RIO products are not available via our online portal. To submit a RIO case you will need to get in touch with us to request an ESIS and complete a paper application form. Here is a step by step guide:

  1. For enquiries and affordability checks please call us on 0330 123 1073 (option 1) or This email address is being protected from spambots. You need JavaScript enabled to view it.
  2. Complete the ESIS Request Form and submit this to us by This email address is being protected from spambots. You need JavaScript enabled to view it.
  3. Your ESIS will be produced and emailed to you the same day, if we receive your request before 3pm (Monday to Friday)
  4. Complete the Mortgage Application Form and This email address is being protected from spambots. You need JavaScript enabled to view it. this to us along with the RIO Intermediary Declaration Form, Direct Debit Mandate, RIO Income Declaration Form and RIO Application Packaging Requirement. (NOTE: we have a 6mb email limit so documents may need to be emailed separately. Please ensure you send all confidential client information via encrypted or password protected email.)
  5. Our lending team will perform initial checks to confirm we have all of the required information ready for underwriting. We will be in touch if we need any additional information
  6. Our lending team will contact your client to arrange collection of the application and valuation fees. If the completion and CHAPS fees are to be paid upfront they will also be collected at the same time
  7. The application will be manually underwritten by our team. We aim to turn a fully packaged application into an offer within 15 days although during busy periods this may change. Case specific documents may be requested at this stage
  8. Case updates are available throughout this process, so please get in touch with us to check the status of your application


RIO Mortgage Rate Guide

RIO Intermediary Declaration Form

ESIS Request Form

Mortgage Application Form

RIO Income Declaration Form

RIO Application Packaging Form

Key features of our RIO mortgages

  • Exclusively available for borrowers aged 55 and over
  • Loans up to 50% LTV for a maximum £500,000 advance
  • At least £150k equity in the property required
  • No maximum age limit
  • No fixed term, although the APR calculation will be based on an estimated term length
  • It is recommended all applicants borrowing beyond the age of 75 have registered a Lasting Power of Attorney for property and financial affairs
  • All borrowers aged 75 or over at the start of the mortgage contract must first seek independent legal advice