Retirement Interest Only (RIO): Minimum Equity Requirement
Our standard acceptability
Does not offer RIO Mortgages
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.
Family Building Society does not offer Retirement Interest Only (RIO) mortgages at this time.Criteria categories:
29 August 2018