Retirement Interest Only (RIO): Minimum Equity Requirement

Our standard acceptability

No Minimum

Criteria definition:

This criteria indicates if we offer Retirement Interest Only (RIO) mortgages and if so do we have a minimum equity requirement. If the repayment strategy is the sale of the mortgaged property, lenders no longer have to assume, as was the case under the previous MCOB rule, that borrowers will need to downsize. Consequently, they do not need to factor into their criteria any specific minimum equity requirement, as is the case with other interest-only mortgages.

Policy Notes:

Family Building Society offers Retirement Interest Only (RIO).

Criteria categories:
  • general
  • Policy

Last updated:

29 August 2018

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