Questions and answers

We've answered some questions about our Retirement Interest Only Mortgage (RIO).

Would my client qualify for a RIO?

To find out if your client is suitable, please view our Retirement Interest Only Mortgage Suitability Criteria.

How much can they borrow?

You can find out how much your client may be able to borrow by viewing our product summary. The amount we’re willing to lend will be subject to an affordability assessment and our Retirement Interest Only Mortgage Lending Policy.

Retirement Interest Only Mortgage Product Summary


What if my client can no longer afford the monthly interest payments?

If your client is experiencing financial difficulties or thinks that they may not be able to make their monthly payment, then they should contact us as early as possible. We’ll always look to help them find a solution.

Is there an Early Repayment Charge and how is it calculated?

The circumstances when an Early Repayment Charge would apply, and the way we calculate it, is detailed in our ‘All you need to know’ guide.

Retirement Interest Only Mortgage - All you need to know

Will a RIO have any impact on inheritance?

As the RIO is designed to be repaid from the sale of your client’s home then this may reduce the value of their estate and the amount which they'll leave to their beneficiaries.

Which solicitor do you use?

We'll use our solicitors, View - Eversheds Sutherland, who are a global law practice.

Can my client use their own solictors?

Yes, they can. We also have our own solicitors, Eversheds Sutherland, who're eligible to act on your client's behalf.

If your client wants to use their own solicitors, we'll assess them against our criteria. Once accepted we'll load them onto our system as acting solicitor.

Are interest rates fixed?

The interest rate on our RIO is fixed for the life of the mortgage meaning that your client can be certain of their monthly payments for as long as they've got the mortgage.

Who should I contact if I have a query about my application?

Call our team on 03330 048 444 or email us.

Monday to Friday, 9.00am to 5.30pm.

We may record and monitor calls. Call charges may vary.

If you're contacting us by email please remember not to send any personal, financial or banking information belonging to you or your client because email is not a secure method of communication.

How will I be updated on the progress of an application?

Once an application is submitted, you can check the status of your application through our portal.

When you log in, the summary page will show you the current status of your applications.

You can click on the application summary section to immediately see if there have been any updates.

You’ll also be able to see in the notes section if our underwriters have requested additional information.