Notices
  • Homes for Ukraine - important information can be found here.

  • Savings members: Following the Bank of England’s decision to raise the Bank Rate by 0.25% to 1.25% on 16 June 2022, Windfall Bond and Tracker Savings Bond rates will increase by 0.25% from 1 July 2022.  In addition we are pleased to say that many of our variable rate accounts will also be increasing from 24 June 2022. We will be informing affected customers of their new rate via email or letter shortly. (Notice updated 20/06/2022).

    Mortgage members: Tracker mortgages will change on 25 July 2022 and we will write to customers individually with revised payment details where the new rate exceeds the minimum rate (or ‘floor’) already applying to their mortgage. (Notice updated 20/06/2022).

Compare-RIO-994x437pi-150dpi

Compare all Retirement Interest-Only (RIO) mortgages

See all our RIO mortgage products at once or select two to compare side by side.

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

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

3.14% 5 year fixed rate until 31/10/2027 RIO

3.14% 4.79% 4.2%APRC
  • Interest-Only
50% £999~

£500 cashback for remortgages^

Overpayments allowed

Some key features of this mortgage

  • Purpose - RIO applications for purchase, remortgage, product switch and additional borrowing
  • LTV - Maximum 50%.
  • Fixed Rate end date - 31/10/2027
  • 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 31/10/2023, 4% until 31/10/2024, 3% until 31/10/2025, 2% until 31/10/2026, 1% until 31/10/2027
  • Overpayments - 10% per year allowed Early Repayment Charges free
  • 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.
  • Cost for comparison - 4.2% APRC
  • Additional criteria - The mortgage must complete by 03/10/2022. Borrowers are required to nominate a Registered Contact when they apply

See full details for fee details, documents you'll need, and more.

Comparing two mortgage products

Mortage icon - House Mortgage icon - House
Product DYNAMIC DYNAMIC
Initial interest rate DYNAMIC DYNAMIC
Current follow on rate DYNAMIC DYNAMIC
Overall cost for comparison DYNAMIC DYNAMIC
Repayment or Interest-Only? DYNAMIC DYNAMIC
Max % loan to value (LTV) DYNAMIC DYNAMIC
Product fees DYNAMIC DYNAMIC
Additional benefits DYNAMIC DYNAMIC

Note that products are subject to additional terms and subject to change. See a product's full details to find out more.

 

Think that a Retirement Interest-Only mortgage could be for you?

We want to help you onto the next stage. Contact our dedicated New Business Team:

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Do you already have a mortgage with us?

If you want to borrow more or switch to another mortgage product we have a range of mortgage products available.