Retirement Interest Only (RIO) Joint Applicants First Death Affordability Assessment: Life Cover
Our standard acceptability
Will be considered
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 life cover when assessing their ability to maintain the ongoing mortgage.
The Society will accept whole of life cover when assessing the affordability of the surviving partner.Criteria categories:
- affordability assessment
29 August 2018