Equity release mortgages

Equity release advice from approachable experts

As you approach later life, getting your finances in order becomes more important than ever. At Mortgage & More, we believe equity release mortgages & borrowing are just part of the big picture, downsizing or using other strategies might also be right for you, & we walk you through every option before you decide. Equity release could be a way to access tax-free cash from your home, helping you pay off an existing mortgage, help loved ones onto the property ladder, improve your home, or boost your retirement income.

However, borrowing in later life needs careful thought. Every lender has their own criteria & options, some let you pay off interest monthly, others roll it up & collect everything after you move into care or pass away. We'll always make sure any equity release plan we recommend meets the Equity Release Council's standards for your peace of mind. Your family's input & proper legal advice are essential, & we'll help you include everyone important in your decisions.

Looking for more detail? Have a look at our comprehensive guide to mortgage jargon.

Retirement Interest Only mortgages explained

A Retirement Interest Only mortgage (RIO) is designed for those over 55 who want a flexible way to borrow against their home later in life. With a RIO mortgage, you only pay the interest each month, & the loan itself is repaid when you enter long-term care or after your property is sold. This means you don't need a separate plan to pay off the capital in your lifetime, the equity in your property does that for you.

Each lender has individual criteria, & how much you can borrow depends on your income & their terms. You'll need to show you have enough long-term income, whether that's from work or your pension, to maintain repayments for life. With the market growing in Maidstone, Kent, & across the UK, we keep up with all the latest offers to find what's right for you.

Our specialist team is always ready to discuss how a RIO mortgage could suit your needs alongside other later life lending options.

Is equity release or an RIO mortgage right for you?

A Retirement Interest Only mortgage can be a strong alternative to standard interest only loans in later life, taking away the pressure of strict end-of-term repayment deadlines. For many, RIOs offer more flexibility than traditional equity release plans & sometimes more favourable repayment terms. Equity release, on the other hand, provides a useful way to unlock funds for everything from family support to lifestyle changes.

Remember, the right option depends on your circumstances, your goals, & any existing commitments. With Mortgage & More on your side, you will have the support of an approachable & expert mortgage broker in Kent, committed to helping you make the best decision for your future.