Specialist Later Life Mortgages

For older borrowers who are looking for something outside our core range and suitable for those looking for an alternative to equity release, our RIO mortgages could be what they're after. All product information is available on this page.

Clients in the market for a younger model?

We have a variety of products available for older borrowers. Alongside our specialist later life Retirement Interest Only product which you can view on this page, our core mortgage product range is also available to older borrowers. 

A reminder of later life proposition for our core range:

  • We offer generous mortgage terms for older borrowers:
    - Owner Occupier Repayment mortgages – up to a maximum age of 95 at the end of the term.
    - Owner Occupier Interest-Only mortgages – up to a maximum age of 89 when the loan commences.
  • We’ll take into account earned income up to the age of 70 and pension income beyond that. (Age 75 for professionals considered).
  • We can also accept rental and investment income that can be evidenced on an SA302.


Retirement Interest Only (RIO) Mortgages

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5.99% RIO 5 Year Fixed Rate to 31/10/2029 (XFZ023)

Code XFZ023
31/10/2029 8.44% 50% £175* £999~ £500^ No Yes No  
More details, fees & downloads Criteria A-Z Check affordability DIP Request Illustration Request Contact your BDM Online Application
  • Purpose - RIO applications for purchase, remortgage, product switch and additional borrowing
  • LTV - Maximum 50%.
  • Fixed Rate end date - 31/10/2029
  • *Application Fee - £175 + Valuation Fee for purchase and remortgage. (£125 for further advance, £0 for switch)
  • Valuation Fees - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount. (£0 for further advance and switch)
  • ~Product Fee - £999 for loans up to £500,000. For loans above £500,000 0.3% of the loan amount. (£0 for further advance and switch)
  • ^Cashback - £500 for remortgage applications.
  • Early Repayment Charges - 5% until 31/10/2025, 4% until 31/10/2026, 3% until 31/10/2027, 2% until 31/10/2028, 1% until 31/10/2029
  • Overpayments - 10% per year allowed Early Repayment Charges free
  • Maximum loan - No maximum. Loans above £500,000 should be referred to us for special agreement before submission of an application
  • Minimum loan - £45,000 for purchase and remortgage. £2,000 for further advance. No minimum for product switches.
  • Cost for comparison - 7.6% APRC
  • Additional criteria - Borrowers are required to nominate a Registered Contact when they apply

This mortgage product has limited funds and may be withdrawn at any time. This type of mortgage is available to applicants aged 55 and over for remortgage of properties in England or Wales.


  • Clients who have an Interest Only mortgage coming to an end and are unable to repay the capital balance, or they are not ready to downsize or move into retirement accommodation.
  • Clients who want to release equity from their home but aren't keen on taking an equity release mortgage. 
  • Clients who want to free up some money to, for example, make home improvements whilst maintaining a comfortable retirement lifestyle.


  • To apply for a RIO, our Owner Occupier Application Form must be completed along with a registered contact declaration form.
  • Your client(s) must be 55 or over and have at least 50% equity in their property. Other than that, our standard owner occupier lending criteria applies. 
  • Borrowers must continue to make monthly payments for an undefined term.
  • For joint applications borrowers must pass a predecease affordability assessment.
  • Your clients can find our FAQ's on our consumer website here.


A registered contact is someone that your client has said they are happy for us to speak to if we can’t get hold of your client to discuss their mortgage.

If we’re able to, we will let your client know that if we don’t hear from them within a certain period, we will speak with their registered contact.

If your client has a RIO mortgage with someone else, each client must have a registered contact, and this is required for the life of the mortgage. Each client can have the same person as their registered contact, but they can’t nominate each other for their registered contact. 

The registered contact isn’t responsible for any obligations in respect of the mortgage. We will only give them information about your client's mortgage if we can’t contact them. They won’t be able to transact or make any changes to your client's mortgage.

We explain the registered contacts responsibilities in detail in our RIO registered contact declaration document.

Criteria checker

Can we help your client? Use our tool to find out.
Simply type your criteria to see our levels of acceptance and flexibility.

Find Your Local

Business Development Manager

Your Local BDM:

Sam Morrison

Working out of our head office, as our phone-based BDM in Epsom, Sam has a wealth of knowledge regarding our processes and criteria and covers a variety of postcodes across the UK.
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Your Local BDM:

Neil Cadwallader

Neil has over 19 years experience in Financial Services from pensions and investments to mortgages. Neil focuses around South Wales and the West of England area. Contact Neil for help with your clients' mortgages.
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Your Local BDM:

Stuart Heavens

Stuart focuses on the South Coast area. Contact Stuart for help with your clients' mortgages.
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Your Local BDM:

Amar Mashru

Amar focuses on the Central London area. Contact Amar for help with your clients' mortgages.
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Your Local BDM:

Arif Kara

Arif was previously a mortgage adviser, and focuses on North and West London. Contact Arif for help with your clients' mortgages.
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Your Local BDM:

Nathan Waller

Nathan, previously a mortgage broker, focuses on Cambridgeshire, East Sussex, Essex, Suffolk, Hertfordshire, Bedfordshire, Lincolnshire, Norfolk and Kent. Contact Nathan for help with your clients' mortgages.
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Your Local BDM:

Grace Bennett

Grace focuses around the West M25 area. Contact Grace for help with your clients' mortgages.
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Your Local BDM:

Darren Deacon

Darren has over 28 years' Financial Services experience and focuses on both the East and West Midlands as well as the Southwest. Contact Darren for help with your clients' mortgages.
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Your Local BDM:

Paul Roberts

Paul has over 30 years' experience and focuses on the North (inc. M62 corridor), Yorkshire and the North East. Contact Paul for help with your clients' mortgages.
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We do not currently have a BDM covering your area. Please contact our Mortgage Helpdesk:

Opening hours: Monday - Friday: 9am - 5.30pm. Saturday: Closed

We may record any telephone calls we have with you in the interest of staff training, monitoring customer service or for security purposes.

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