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Lending into Retirement Downsizing

Please be aware all mortgage products were withdrawn at 5pm on Thursday 4 August, except for Self-Build. This is so we can focus on processing our existing applications as quickly as possible and restore our service levels to normal. System issues mean products are still visible on the portal, but applications received after the deadline will NOT be accepted. Please keep checking back for updates for when our new products will be launched.

Contact the Intermediary Support Team (01799 582 925 or with any queries, and thanks for your understanding at this busy time.

An interest only mortgage that allows downsizing as the repayment vehicle when the loan will be repaid in retirement.

Product Criteria

  • Interest Only subject to sale & downsize of main UK residence as repayment strategy
  • Minimum equity £250,000 (without geographical restriction)
  • We can consider cases below this level if other assets are in place or if it is appropriate to the geographical area. Subject to Underwriter assessment
  • Examples of property available for downsizing to in planned retirement area required
  • Evidence of retirement income required
  • Minimum loan size £30,000
  • Maximum loan size £1,000,000. Loans over this are priced on a bespoke basis and have restricted LTV’s
  • Must not be more than 5 years from retirement
  • Maximum term determined by ONS tables

The interest rate charged will not fall below 2.00% (the minimum interest rate) at any point during the mortgage.

Lending into Retirement Downsizing

Your home may be repossessed if you do not keep up payments on your mortgage