Lifetime Mortgages

Retirement Interest-Only Mortgages – A Flexible Way to Borrow in Later Life

A Retirement Interest-Only (RIO) mortgage is designed for homeowners aged 55 and over who want to access funds while keeping their monthly payments affordable. Unlike standard mortgages, RIO mortgages don’t have an end date & require only the interest to be repaid monthly, with the loan amount being settled when you sell your home, move into long-term care, or pass away. At J Finance, we provide expert advice to help you find the right RIO mortgage for your needs.

How Does a Retirement Interest-Only Mortgage Work?

With a RIO mortgage, you borrow an amount against your home and make monthly interest payments to keep the loan balance fixed. The capital is repaid from the sale of your property when the loan term ends.

Benefits of a Retirement Interest-Only Mortgage

  • Lower Monthly Payments – Since you only pay the interest, your monthly costs are more manageable.

  • Stay in Your Home – You can remain in your home for as long as you wish, as long as you keep up with the payments.

  • Access to Tax-Free Cash – Use the released funds for home improvements, supplementing your pension, or helping family members.

  • No Fixed End Date – Unlike traditional mortgages, RIO mortgages don’t require repayment until a significant life event occurs.

Things to Consider

  • You must prove you can afford the monthly interest payments.

  • The loan is typically repaid from the sale of your home, reducing the inheritance you leave behind.

  • You must meet lender eligibility criteria, which includes age and income assessments.

Why Choose J Finance?

  • Independent Advice – We compare options from various lenders to find the best RIO mortgage for your circumstances.

  • Tailored Solutions – We ensure the mortgage fits your retirement plans and financial goals.

  • Transparent Guidance – We explain everything clearly, so you can make an informed decision.

  • Ongoing Support – We’re here to assist you throughout the mortgage process and beyond.

Explore Your Retirement Mortgage Options Today

A Retirement Interest-Only mortgage can provide financial flexibility while allowing you to remain in your home. Contact J Finance today for expert advice and to see if it’s the right choice for you.