Retirement Interest Only

Retirement interest only mortgages (RIOs) are a relatively new set of mortgage products designed to help older borrowers who may struggle to get a standard residential mortgage borrow against their property. A RIO mortgage is similar to a standard interest-only mortgage, with two main differences:

The mortgage loan is usually only paid off when you die, move into long term care or sell the house. The mortgage loan is usually only paid off when you die, move into long term care or sell the house. Retirement interest-only mortgages are generally aimed at older borrowers – although there is no minimum age limit, they marketed to the over 55s, over 60s and pensioners who might find them easier to qualify for than a typical interest-only mortgage

In this way, they’re similar to types of equity release schemes like a lifetime mortgage, where you pay-off the original capital and possibly any interest when you die or move into long-term residential care.

There are two parts to paying off a retirement interest-only mortgage. The interest and the outstanding capital.

During the term of the mortgage, you will make monthly repayments to cover the cost of the interest on your loan.

The outstanding capital you still owe will be paid off when the house is sold, you die, or when you move into long-term care. This means that theoretically you should be more likely to have something to pass on as an inheritance, or have the ability to pay for long-term care should you need to.

There are pro’s and cons to be aware of when considering this mortgage

No need to demonstrate a suitable plan for repaying the mortgage.

More likely to have something to pass on as inheritance should you die.

Interest will not be rolled up – which is when interest builds and builds – like with equity release.

Avoid having to downsize to a smaller property.

The loan term is not fixed.

Generally cheaper when compared to most Lifetime Mortgages – better rates.

You can unlock some of the equity in your home to pay off outstanding debt.

You will need to pass the mortgage affordability checks to prove you can afford the interest only repayments.

Your home will be sold off to repay the loan when you die, enter long-term care or sell your home.

Your home is at risk if you do not keep up the repayments.

The amount you can borrow is based on your retirement income and your loan to value ratio.

Retirement interest-only mortgages can be offered by traditional mortgage lenders, including high street banks and building societies.

Are you considering remortgaging a retirement interest-only mortgage? Well, you will be pleased to hear it is possible but, you may have to undergo another affordability assessment, if switching lenders or looking to increase the size of your mortgage borrow, which could be difficult for some people.

If you’re looking for a retirement interest only mortgage, and want to find out more about them, then we can connect you with qualified Advisors. We do not offer these products.

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More and more investors are deciding to buy properties within a Limited Company to keep things tax efficient. ⁣

But when it comes to refinancing or purchasing a new investment property, the process of getting a mortgage can feel challenging.⁣

But not anymore!⁣

Our Specialist Mortgage Advisors know which Mortgage Lenders are used to working with Limited Company Buy to Let portfolios. They`ll find you the most suitable deal and save you time and money by managing your mortgage application from start to finish. ⁣

Visit our website to learn more (🔗 in bio)⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

Before pursuing Limited Company Buy To Let we recommend you seek advice from a tax expert.⁣

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All lenders have different forms of acceptable income. ⁣
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Your salary is an obvious form of income. But there are some lenders who will accept alternative forms of income and not just your salary, things like;⁣
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By discussing your whole situation and income with one of our Mortgage Advisors, we can explain which lenders are most likely to accept your income. ⁣
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All lenders have different forms of acceptable income. ⁣

Your salary is an obvious form of income. But there are some lenders who will accept alternative forms of income and not just your salary, things like;⁣

👉 Zero hours contacts⁣
👉 Foster parent income⁣
👉 Rental income⁣
👉 DWP income & allowances⁣
👉 Irregular commission⁣
👉 Bonuses & shift allowances⁣

By discussing your whole situation and income with one of our Mortgage Advisors, we can explain which lenders are most likely to accept your income. ⁣

Give us a call on 0800 612 5596 or tap the link in our bio to learn more.⁣

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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

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Tired of trawling through mortgage deals?⁣
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And we'll be by your side every step of the way, from understanding your financial situation to guiding you through the mortgage application process.⁣
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The best bit? We don't charge a broker fee! ⁣
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Get in touch for a chat on 0800 612 5596 or tap the link in our bio to learn more!⁣
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Tired of trawling through mortgage deals?⁣

Let us guide you through your options and help you find the right mortgage for your needs.⁣

We have access to a comprehensive panel of lenders to ensure we research the most suitable mortgage solution for your situation.⁣

And we`ll be by your side every step of the way, from understanding your financial situation to guiding you through the mortgage application process.⁣

The best bit? We don`t charge a broker fee! ⁣

Get in touch for a chat on 0800 612 5596 or tap the link in our bio to learn more!⁣

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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣


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To move or not to move? That is the question!⁣
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Making the decision to move home is a personal one and depends on your unique circumstances. But here are some things to consider when weighing the pros and cons:⁣
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✅ A fresh start - If you’re feeling stuck in a rut or just need a change of scenery, moving home can be the perfect way to start over.⁣
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✅ Closer to loved-ones - If you’re moving to be closer to family or friends, it can make the transition much easier.⁣
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✅ More space - If you’re cramped for space in your current home, moving to a bigger property can be a great solution.⁣
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To move or not to move? That is the question!⁣

Making the decision to move home is a personal one and depends on your unique circumstances. But here are some things to consider when weighing the pros and cons:⁣

✅ A fresh start - If you’re feeling stuck in a rut or just need a change of scenery, moving home can be the perfect way to start over.⁣

✅ Closer to loved-ones - If you’re moving to be closer to family or friends, it can make the transition much easier.⁣

✅ More space - If you’re cramped for space in your current home, moving to a bigger property can be a great solution.⁣

❌ Cost of moving - Moving home can be an expensive process, especially if you’re hiring professional help to do the heavy lifting. ⁣

❌ Packing and unpacking - If you’re not prepared for the amount of work involved, it can be very overwhelming.⁣

❌ Adjusting to a new home - Adjusting to a new home can be difficult, especially if you’re used to your current surroundings. ⁣

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If you’re self-employed and looking to get a mortgage, there's a few things you should take into account. ⁣
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👉 Lenders will typically require proof of income and tax returns for the past three years in order to assess your affordability. ⁣
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👉 They will also ask for additional information, such as bank statements and invoices.⁣
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👉 As a self-employed borrower, you may be considered a higher risk by lenders, so it’s worth shopping around to find a deal that’s right for you. ⁣
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We're here to help you navigate the self-employed mortgage process. Give us a call on 0800 612 5596 to arrange a chat. ⁣
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We are available outside usual working hours, and we don't charge a broker fee 🌟⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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#selfemployedmortgages #selfemployed #bournemouthbusiness #smallbusiness #mortgagetips #mortgagesuk

If you’re self-employed and looking to get a mortgage, there`s a few things you should take into account. ⁣

👉 Lenders will typically require proof of income and tax returns for the past three years in order to assess your affordability. ⁣

👉 They will also ask for additional information, such as bank statements and invoices.⁣

👉 As a self-employed borrower, you may be considered a higher risk by lenders, so it’s worth shopping around to find a deal that’s right for you. ⁣

We`re here to help you navigate the self-employed mortgage process. Give us a call on 0800 612 5596 to arrange a chat. ⁣

We are available outside usual working hours, and we don`t charge a broker fee 🌟⁣

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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣


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Tap the link in our bio to learn more.⁣
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"I`d heard about Yes Mortgages via word of mouth and hadn`t heard a bad word word, now I know I why."⁣

Maybe you’re looking to buy your first home. Or refinance the one you’re already in 🏡. No matter your situation, our personal goal is to see that it ends with you getting the loan you need when you need it. At the rate you deserve. And with a level of care beyond anything you expect 🌟⁣

Tap the link in our bio to learn more.⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#bournemouthbusiness #southcoastuk #mortgagebroker #mortgageuk #mortgagespecialists #nobrokerfee
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What's the best mortgage? How much can I borrow? What deposit will I need? 🤯 It can all get a bit much. ⁣
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But our mortgage advisors are here to guide you every step of the way, cut through the jargon and answer any questions you may have (even the ones you think might be silly). ⁣
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We don't charge a broker fee, so get in touch for a chat - call us on 0800 612 5596 or send a DM⁣
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...⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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#firsthometogether #firsttimehomebuyertips #firstimebuyer #firsttimebuyersuk #househunters #letsbuyahouse

What`s the best mortgage? How much can I borrow? What deposit will I need? 🤯 It can all get a bit much. ⁣

But our mortgage advisors are here to guide you every step of the way, cut through the jargon and answer any questions you may have (even the ones you think might be silly). ⁣

We don`t charge a broker fee, so get in touch for a chat - call us on 0800 612 5596 or send a DM⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#firsthometogether #firsttimehomebuyertips #firstimebuyer #firsttimebuyersuk #househunters #letsbuyahouse
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Big changes in your life, planned or unexpected, could mean that your current mortgage no longer suits your needs.⁣
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But with so many lenders out there, it can be overwhelming to navigate the varying interest rates, terms, and fees 🤯⁣
⁣
Well, we're here to do the legwork for you...⁣
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We'll compare different offers and find the most suitable mortgage deals for your situation and be there to guide you through every step until completion.⁣
⁣
The best bit? We don't charge a broker fee!⁣
⁣
Call us for a chat on 0800 612 5596, or visit our website for more info (link in bio)⁣
⁣
...⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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...⁣
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#homeownerlife #homeownertips #mortgageuk #mortgageadvice #mortgageexperts #westcountry

Big changes in your life, planned or unexpected, could mean that your current mortgage no longer suits your needs.⁣

But with so many lenders out there, it can be overwhelming to navigate the varying interest rates, terms, and fees 🤯⁣

Well, we`re here to do the legwork for you...⁣

We`ll compare different offers and find the most suitable mortgage deals for your situation and be there to guide you through every step until completion.⁣

The best bit? We don`t charge a broker fee!⁣

Call us for a chat on 0800 612 5596, or visit our website for more info (link in bio)⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#homeownerlife #homeownertips #mortgageuk #mortgageadvice #mortgageexperts #westcountry
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What is an agreement in principle, and do you need one? 🤔⁣
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An agreement in principle is a statement offered by lenders to give you an estimate of how much they're likely to lend you.⁣
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Having one will help you narrow down your house hunt to those properties in your price range and will help you prove to sellers and agents that you’re a serious buyer. ⁣
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Learn more about the world of mortgages on our blog (🔗 in bio)⁣
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Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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#agreementinprinciple #firsttimehomebuyertips #firstimebuyer #homebuyingprocess #buyingyourfirsthome #househuntingadventures

What is an agreement in principle, and do you need one? 🤔⁣

An agreement in principle is a statement offered by lenders to give you an estimate of how much they`re likely to lend you.⁣

Having one will help you narrow down your house hunt to those properties in your price range and will help you prove to sellers and agents that you’re a serious buyer. ⁣

Learn more about the world of mortgages on our blog (🔗 in bio)⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#agreementinprinciple #firsttimehomebuyertips #firstimebuyer #homebuyingprocess #buyingyourfirsthome #househuntingadventures
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If you're about to buy your first home, you've probably heard a lot about home insurance. But what is it, and do you need it?⁣
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There are two parts to home insurance: ⁣
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🏠 Buildings insurance covers the structure or fabric of your house; the walls, roof, windows, floors, and often fixtures and fittings too. ⁣
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🛋 Contents insurance is for things like furniture, TVs and personal belongings. ⁣
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A simple way of putting it; if you turned your house upside down, contents insurance would cover you against the belongings that fall out of it. Buildings insurance should cover the rest.⁣
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Mortgage lenders insist you take out buildings insurance when you exchange contracts. ⁣
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And while you don't need Contents Insurance to buy a house, it might offer peace of mind to have it (particularly given that the average household owns around £35,000 of stuff!). ⁣
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If you need help finding the right policy, our insurance advisor Kelly is available. Send us a message or call 0800 612 5596.

If you`re about to buy your first home, you`ve probably heard a lot about home insurance. But what is it, and do you need it?⁣

There are two parts to home insurance: ⁣

🏠 Buildings insurance covers the structure or fabric of your house; the walls, roof, windows, floors, and often fixtures and fittings too. ⁣

🛋 Contents insurance is for things like furniture, TVs and personal belongings. ⁣

A simple way of putting it; if you turned your house upside down, contents insurance would cover you against the belongings that fall out of it. Buildings insurance should cover the rest.⁣

Mortgage lenders insist you take out buildings insurance when you exchange contracts. ⁣

And while you don`t need Contents Insurance to buy a house, it might offer peace of mind to have it (particularly given that the average household owns around £35,000 of stuff!). ⁣

If you need help finding the right policy, our insurance advisor Kelly is available. Send us a message or call 0800 612 5596.
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We believe in providing quality financial advice to everyone, regardless of their financial status. ⁣
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That's why we don't charge a broker fee 🤩⁣
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You won't pay us a penny for our services! ⁣
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We'll look after you for the lifetime of your mortgage/home ownership, ensuring you never pay more than you should on your loan. Whether you're remortgaging, moving home, or making any subsequent property purchase, we've got you covered.⁣
⁣
Visit our website (🔗 in bio) to learn more.⁣
⁣
...⁣
⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
⁣
...⁣
⁣
#mortgageadvisor #nobrokerfee #dorset #dorsetbusiness #ukmortgages #mortgagespecialists

We believe in providing quality financial advice to everyone, regardless of their financial status. ⁣

That`s why we don`t charge a broker fee 🤩⁣

You won`t pay us a penny for our services! ⁣

We`ll look after you for the lifetime of your mortgage/home ownership, ensuring you never pay more than you should on your loan. Whether you`re remortgaging, moving home, or making any subsequent property purchase, we`ve got you covered.⁣

Visit our website (🔗 in bio) to learn more.⁣

...⁣


Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#mortgageadvisor #nobrokerfee #dorset #dorsetbusiness #ukmortgages #mortgagespecialists
...

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Let us find the right property finance to fund your investment portfolio...⁣
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We know a buy-to-let investment can be a big commitment, so our dedicated mortgage advisers will help you consider the costs, responsibilities, and risks whether you’re starting or expanding your investment property portfolio.⁣
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Have a chat with one of our buy-to-let mortgage experts on 0800 612 5596 - we don't charge a broker fee!⁣
⁣
...⁣
⁣
Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣
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...⁣
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#propertyinvestmentuk #buytolet #ukproperty #ukpropertyinvestor #landlordsecrets #investmentproperty

Let us find the right property finance to fund your investment portfolio...⁣

We know a buy-to-let investment can be a big commitment, so our dedicated mortgage advisers will help you consider the costs, responsibilities, and risks whether you’re starting or expanding your investment property portfolio.⁣

Have a chat with one of our buy-to-let mortgage experts on 0800 612 5596 - we don`t charge a broker fee!⁣

...⁣

Your property may be repossessed if you do not keep up repayments on your mortgage. Yes Mortgage Services Limited do not charge a broker fee.⁣

...⁣

#propertyinvestmentuk #buytolet #ukproperty #ukpropertyinvestor #landlordsecrets #investmentproperty
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