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Retirement Interest Only Mortgage calculator
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Retirement interest only mortgage calculator


How to use the retirement interest only mortgage calculator

For an estimate of the maximum you could potentially borrow with a retirement interest only mortgage (RIO), simply input:

  • the value of your property
  • the age of the youngest homeowner (which must be typically at least 50)
  • your postcode

This is the main criteria that lenders use when deciding how much money you can borrow.

An introduction to retirement interest only (RIO) mortgages

Retirement interest only 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. The main difference is 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 when you die or move into long term care. This is the same as a lifetime mortgage.

RIO mortgages are typically offered by life insurance companies such as Legal & General, specialist RIO lenders like LiveMore Capital and building societies such as Nationwide. It’s important to remember that RIO's are residential mortgages. This means that you must pass the lender’s income and 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 mortgages?

Research the range of retirement interest only (RIO) mortgages currently available, using our ‘Compare Equity Release Deals’ functionality – a tool that’s only available at Equity Release Supermarket.

You’ll be able to see the RIO mortgage interest rates, along with their features and any offers from all lenders across the equity release marketplace. Alternatively, try our free intelligent smartER research tool which allows you to conduct your own research on retirement interest only mortgages across the whole of the later life market.

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 50+ 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.