Retirement Interest Only (RIO) Joint Applicants First Death Affordability Assessment: Survivors Pension
Our standard acceptability
Will be considered
Criteria definition:
Where a joint application is taken lenders will assess the future means of affordability of the surviving borrower following the death of another applicant. This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so can we consider the survivor's pension when assessing their ability to maintain the ongoing mortgage.
Policy Notes:
The Society can accept a survivor's pension when assessing affordability of the surviving partner.
Criteria categories:- affordability assessment
- Policy
Last updated:
29 August 2018