Retirement Interest Only (RIO): Can Consider Non-Guaranteed Potential Future Affordability

Our standard acceptability


Criteria definition:

Often times applicants may be in paid employment at the time of application without a guaranteed conventional pension in place for their retirement. They could, however, have other planned methods of generating themselves an income into retirement such as purchasing an annuity with savings or receiving rental income. Whilst this criteria is not specific to those two examples it indicates if we offer Retirement Interest Only (RIO) mortgages and if so if
are we willing to consider other types of non guaranteed future projected income?

Policy Notes:

The Society will not accept employed non-guaranteed income.

Criteria categories:
  • affordability assessment
  • Policy

Last updated:

29 August 2018