• We're delighted to have won Best First Time Buyer Mortgage Provider in the Personal Finance Awards 2021/2022. Thank you for voting for us!
  • Monday 29 November – We are aware a small number of customers are experiencing some technical issues when accessing our Online Service. This is being investigated as a matter of urgency. If you need to get in touch with us you can find our contact details here.

3.49% 5 year fixed rate Retirement Interest-Only

The mortgage will be secured on your property.
Your property may be repossessed if you do not keep up repayments on your mortgage.

Initial interest rate Current follow on rate Overall cost for comparison Repayment or Interest-Only? Max % Loan to Value (LTV) Product fees Additional

3.49% 5 year fixed rate Retirement Interest-Only

3.49% 4.39% 4.2%APRC
  • Interest-Only
50% £999~

£500 cashback for remortgages^

Overpayments allowed

Key things to bear in mind

  • Purpose - RIO applications for purchase, remortgage, product switch and further advance
  • Loan to Value - Maximum 50%
  • 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)
  • Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
  • Minimum loan - £45,000 for purchase and remortgage. £2,000 for further advance. No minimum for product switches
  • Additional benefits:
    - ^Cashback - £500 on completion for remortgage applications
  • Early Repayment Charges -  5% until 31/01/2023, 4% until 31/01/2024, 3% until 31/01/2025, 2% until 31/01/2026 1% until 31/01/2027
  • Additional criteria – The mortgage must complete by 01/02/2022. Borrowers are required to nominate a Registered Contact when they apply
Affordability calculator Email us Ask us to call back Summary & fees

Representative example

A mortgage of £75,000.00 payable over 14 years initially on a fixed rate for 5 years at 3.49% and then on our variable Managed Mortgage Rate, currently 4.39%, would require 64 monthly payments of £218.13 and 104 monthly payments of £274.24 plus one initial interest payment of £215.78.

The total amount payable would be £118,971.06 made up of the loan amount plus interest of £42,697.06, an Application Fee of £175, a Product Fee of £999 and a Mortgage Exit Fee of £100.

The overall cost for comparison is 4.2% APRC representative.

More downloads & what you'll need to apply

More mortgage downloads


We carry out an electronic ID check on all applicants. If this fails you will need to provide us with ID documents.

Bank statements

  • Three full months most recent consecutive bank statements for all current accounts, to evidence all income and outgoings. Bank statements must show the applicants name, account number, sort code and bank logo. 

    If you're renting your current home you'll need...
  • 12 months statements showing rent payments.

    If you already have a mortgage you'll need…
  • Proof of mortgage payments - we carry out an electronic credit check on all applicants which usually confirms this. However if this fails, we will need proof. This can be provided from 12 months bank statements, the latest mortgage statements, or a combination. To speed up our underwriting, you can provide these on submission.

Proof of income

If you're employed in a company you'll need...

  • Three months most recent payslips
  • Most recent P60

    If you have property or investment income you'll need...
  • Two years most recent SA302s

    If you're self employed you'll need...
  • Two years most recent accounts or two years most recent SA302s / Tax Calculations (100% Completed) or Family Building Society Accountant’s Certificate
  • Accountant’s details on the application form

    If you are already retired or if the term of your mortgage term goes beyond retirement or age 70 you'll need...
  • Most recent Pension Statement or letter from Department for Work and Pensions
  • Most recent annual Pension Statement
  • Most recent P60

Other items

Evidence of deposit for purchases

  • Evidence of deposit in an account held by the applicant(s)
  • For gifted deposits, we require evidence of the funds in a UK account and the giftors details (name, date of birth, relationship to applicants)

If you already let a property you'll need...

  • Evidence of rent being paid in and mortgage being paid out (bank statements requested above may already cover this)

Retirement Interest Only (RIO) mortgages

  • Completed Registered Contact Declaration

Case study - Peace of mind when remortgaging

When they originally took out their interest only mortgage, Peter and Julia said they planned to repay the capital using inheritance. However, as time went on, they became concerned that this was  not viable.

View full case study

Over 125 years of helping people move in

For a long time we've been trusted to lend to a wide variety of people with a more small scale, personal approach as shown in our awards.


More about who we areView our awards

Call our expert UK team

New enquiries

Savings - 03330 140141

Mortgages - 03330 140140

Existing customers

Savings - 03330 140144

Mortgages - 03330 140146

...or ask the way that suits you.

Request a call back

We can call you back at a time that suits you.

Visit us in branch

Ashley Square, Epsom, Surrey, KT18 5DD.

View our FAQs

Your questions might be answered here.