Retirement Interest Only (RIO) Mortgage Calculator
A retirement interest-only mortgage is a type of mortgage available to older borrowers, typically aged 55 and above. It allows you to borrow money against your property without having to make monthly payments towards the capital balance on the loan.
Instead, interest is repaid whilst the capital balance on the loan is paid off when you sell your property, move into long-term care or pass away.
Our retirement interest-only mortgage calculator can help you estimate the amount of interest that will be repayable on one of these products. Simply input the loan amount and interest rate to calculate an estimated total cost.
It’s important to carefully consider if a retirement interest only mortgage is the right option for you, as it may have implications for your inheritance and equity release options.
Our team of experts can provide you with personalized advice and guidance on this type of mortgage to help you make an informed decision.
