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Retirement interest only - RIO - mortgage calculator


How to use the retirement interest only - RIO - mortgage calculator

To get an idea of the maximum you could potentially borrow with a retirement interest only mortgage – (RIO), you simply need to input the value of your property, the age of the youngest homeowner (which must be typically at least 50) and your postcode (to understand where you live) – as these are some of the criteria that lenders use when deciding how much money you can borrow.

An introduction to retirement interest only – RIO - mortgages

Retirement interest only - RIO - mortgages have been specifically designed to help homeowners whose current interest-only mortgages are coming to an end to carry them forward into retirement. RIO’s can offer an alternative to equity release, where disposable income is available to meet regular lifetime monthly payments.

RIO’s work in the same way as an interest-only mortgage, whereby the accruing interest on the amount borrowed is repaid each month, however the main difference is the fact that RIO’s have no end date, or fixed term. As a result, RIO’s and interest-only mortgages differ in the way the loan is repaid. With a conventional interest-only mortgage, the balance is repaid at the end of the term agreed with the lender. With a RIO mortgage, the balance is repaid in the same way as a lifetime mortgage, which is when you die or move into long term care.

RIO mortgages are typically offered by smaller building societies and it’s important to remember that they are residential mortgages. Which means that you must pass the lender’s affordability checks to qualify and your home may be repossessed if you don’t keep up your monthly interest repayments.

Want to compare retirement interest only – RIO - mortgages?

If you’d like to research the range of retirement interest only - RIO - mortgages that are currently available, then feel free to use our ‘Compare Deals’ functionality which is only available at Equity Release Supermarket.

You’ll be able to see the mortgage interest rates, along with their features and any offers from all the lenders across the retirement interest only – RIO - mortgage marketplace.

Let’s make it personal

Your retirement interest only – RIO - mortgage calculator results may not be what you were expecting, but it’s important to remember that are only a guide. Your local expert adviser is on hand to answer all your questions and find the right mortgage for you. If you’re ready, why not call them now?



These are retirement mortgages for the 55+ consumer, based on income, credit rating and affordability. The RIO calculator does not base the results on affordability and therefore should only be used as a guide. Your home may be repossessed if you do not keep up repayments on a RIO mortgage. To understand their features, benefits and risks, please contact Equity Release Supermarket for your personalised, key facts illustration. All RIO quotes can be tailored to your own circumstances and you are under no obligation to proceed.