Release some of your hard earned equity in your home so you can enjoy your retirement without financial stresses or needing to move.

A lifetime mortgage can enable you to take a tax-free lump sum and/or smaller, regular payments to supplement your income from the equity you have build up in your home. You can continue to live in your home until you die or move into permanent residential care.

You may continue to benefit from any rise in the value of your property.

You can still move to a suitable alternative property in the future, as equity release is transferable, subject to your new home meeting the property suitability criteria applicable at the time.

With a lifetime mortgage, you continue to live in and keep ownership of your home.

A retirement interest only mortgage or RIO is a mortgage that lets you pay the interest on a monthly basis, without reducing the original amount (capital) you borrowed. It is only available to people who are over the age of 50 and has been designed to help older borrowers who may struggle to get a standard residential mortgage.

They’re very similar to standard interest only mortgages, but with some key differences.

With the majority of retirement interest only mortgages in the UK, you only repay the loan when you sell your property, move into full-time care or pass away.  Just like a standard mortgage, you’ll have to prove you can afford the monthly interest repayments.