The Three Main Categories
1. Standard 55+ Mortgages
These are conventional residential mortgages - capital and interest or interest-only - offered by lenders who do not impose the age caps that most high street banks apply. If you have good retirement income and are looking to remortgage or purchase, these often provide the most competitive rates.
2. Retirement Interest-Only (RIO) Mortgages
A RIO mortgage is specifically designed for older borrowers. You pay only the monthly interest - the capital is repaid when you sell the property, move into long-term care, or die. Unlike equity release, your loan balance never increases. RIO mortgages are FCA-regulated residential mortgages.
3. Equity Release / Lifetime Mortgages
No monthly payments are required. The interest rolls up and compounds annually. The loan and all accumulated interest are repaid on the sale of the property - typically on death or on moving into long-term care. Lifetime mortgages include a no-negative-equity guarantee (Equity Release Council members), meaning you can never owe more than the property is worth.
How the Advice Process Works
- 1Initial consultation - we review your income, property, borrowing need and plans
- 2Whole of market search - we identify all suitable lenders and products
- 3Recommendation - we present options across all three product categories, with a clear explanation of costs, risks and trade-offs
- 4Application - we manage the application and work with the lender and solicitor
- 5Completion - funds released or mortgage transferred