The Nottingham extends retirement interest-only mortgage range

The Nottingham extends retirement interest-only mortgage range


Todays other news
The number of low-deposit mortgage deals available at 90% and...
The latest fall in inflation to 2.6% suggests that a...
One Mortgage System (OMS), the single-input enquiry to completion processing...
The Mortgage Works has boosted its support for limited company...
Legal & General (L&G) Retail Protection has signed a five-year...


The Nottingham Building Society has added to its retirement interest-only (RIO) mortgage range to help with home ownership.

Its two new offerings – a five-year fixed (3.55%) and a two-year fixed (3.20%) – are both with a £995 fee, while the fee from the existing two-year discount (2.99%) product has been removed.

Its other RIO products, announced earlier this year, are a seven-year fixed (3.85%) and three-year fixed (3.34%), both with a £995 fee. All come with a free valuation and 40% loan-to-value (LTV) limit.

Nikki Warren-Dean, head of intermediary sales for The Nottingham for Intermediaries, said: “We have extended our range of RIO mortgages to give further choice for people in, or heading towards, retirement.”

“The introduction of our latest RIO products further highlights our desire to be there for our customer’s mortgage needs whether it’s their first or last house.”

RIO mortgages – which are available for both purchases and remortgaging – give people in later life the option to release funds, giving them more financial planning options or to enhance their retirement lifestyle.

They are without a term, interest-only, and have a minimum application age of 55. Redemption is at sale of the property following a life event such as the customer passing away, going into care or selling the house.

In case of a joint mortgage, redemption will be when both applicants reach a life event.

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Introducer Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
The number of low-deposit mortgage deals available at 90% and...
The latest fall in inflation to 2.6% suggests that a...
Legal & General (L&G) Retail Protection has signed a five-year...
The changes take effect today, Wednesday April 16...
Before inflation rose, some analysts hoped for four cuts this...
Nationwide has gone in the opposite direction to the Bank...
Recommended for you
Latest Features
The number of low-deposit mortgage deals available at 90% and...
The latest fall in inflation to 2.6% suggests that a...
One Mortgage System (OMS), the single-input enquiry to completion processing...
Sponsored Content
Historically second charge mortgages or secured loans as they are...
Lenders must say what they mean and mean what they...
Fraudsters attacking the conveyancing sector, successfully stealing large sums of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here