RIO Mortgage Rates - November 2026
| LTV | Rate from | Fix period | Lenders |
|---|---|---|---|
| Up to 50% | 4.49% fixed | 2 or 5 year | Family BS, Hodge |
| Up to 55% | 4.59% fixed | 2 or 5 year | Hodge, LiveMore |
| Up to 60% | 4.69% fixed | 2 or 5 year | Hodge, LiveMore |
| Up to 65% | 4.99% fixed | 2 or 5 year | Hodge, LiveMore |
| Up to 70% | 5.29% fixed | 2 year | Hodge, LiveMore |
Rates shown are indicative only, correct as of November 2026, and subject to change without notice. Rates available are subject to individual circumstances, credit assessment, property type and lender criteria.
RIO vs Equity Release - Key Differences
| RIO Mortgage | Lifetime Mortgage (Equity Release) | |
|---|---|---|
| Monthly payment | Yes - interest only | No - interest rolls up |
| Loan balance over time | Stays the same | Grows - interest compounds annually |
| Cost over 20 years at £200k / 5% | £200,000 total interest | £530,000+ outstanding balance |
| Effect on estate | Minimal - balance unchanged | Significant - compounding erodes equity |
| Eligibility | 55+, income-assessed | 55+, no income required |
| FCA regulation | MCOB - same as standard mortgage | MCOB 8 - stricter equity release rules |
| Best for | Borrowers who can service interest | Borrowers who cannot afford monthly payments |
Who Can Get a RIO Mortgage?
RIO mortgages are available to borrowers aged 55 and above who can demonstrate an ability to service the monthly interest from retirement income. Lenders assess:
- State pension and private pension income
- Pension drawdown income (most lenders will consider a sustainable drawdown level)
- Rental income from buy-to-let properties
- Investment income from ISAs, bonds and portfolios
- Part-time employment income
Common Uses for a RIO Mortgage
- Remortgaging at the end of a fixed rate - keeping borrowing affordable in retirement
- Replacing a maturing standard interest-only mortgage with no repayment vehicle
- Releasing equity for home improvements, family gifting or retirement income
- Purchasing a new property in retirement - downsizing or relocating
- As a less expensive alternative to equity release for borrowers with retirement income