Freephone 0800 411 8668
We are authorised and regulated by the Financial Conduct Authority (FCA) and members of the Equity Release Council.
Bower has always supported the aims of The Council and the associated SHIP safeguards which our membership offers, such as its commitment to impartial advice.
Sometimes getting a mortgage later in life can be difficult, but it doesn’t have to be, which is why we have expert advisers on hand to help anyone over 55 obtain a mortgage which suits their needs and circumstances.
A retirement interest-only mortgage or RIO is similar to a conventional interest-only mortgage where you are only required to maintain the interest payments on the loan on a monthly basis. As long as the payments are maintained the balance will remain the same.
With most RIO mortgages, you are only required to repay the loan if you sell your property, move into long term care or die. But some retirement interest-only mortgages carry a fixed term like with regular mortgages, meaning the loan must be repaid when you reach a certain age or after a set number of years.
RIO’s have been specifically designed for people over the age of 55.
Find out today if you qualify by speaking to one of our expert advisers.
Just call Freephone: 0800 411 8668