Retirement Interest Only Mortgage A lump sum from your home that you don’t have to repay by a fixed date Use our calculator Overview Features Calculator Speak to a specialist Talk to an adviser What is a Retirement Interest Only Mortgage? Interest only mortgage for later life The Retirement Interest Only Mortgage is available to people over 55. It’s a loan secured against your home. You pay the interest each month, which means the amount you owe doesn’t increase over time. You can use it for most purposes (including paying off an existing mortgage). What's more, you don't have to repay the loan until you, or the last remaining borrower, die or move permanently into long-term care.' Our Retirement Interest Only Mortgage can only be taken out with a mortgage adviser. As a last resort, your home may be repossessed if you do not keep up with payments Features Is a Retirement Interest Only Mortgage right for me? Considerations How much could you borrow? Please make sure you click on information buttons in the calculator to understand what amounts you need to include. Retirement Interest Only Mortgage affordability calculator Our affordability calculator will give you an idea of the amount you could borrow. Please make sure you complete the calculator as thoroughly as possible for an accurate result. Once you've had a calculation, you'll need to speak to an Adviser who can talk to you about your circumstances and complete a full Decision in Principle. This will provide you with the exact amount that can be borrowed, it's subject to the information you provided plus the results of a credit reference check. Applications are subject to our standard lending criteria, status and financial standing. The calculator gives an estimate of affordability and is not a guarantee of lending. Additional evidence may be required. Think carefully before securing a loan against your home. As a last resort, your home may be repossessed if you don't keep up with payments. Required information for each applicant Your property value Your desired loan amount Dependants and retirement age Employment and other income Pension details Monthly payments Start Help to stay safe from scams See how you can protect yourself from fraud. Find out more Call us to find out if a Retirement Interest Only Mortgage is for you To speak with us about your options, call the number below. For any other enquiries please get in touch via our contact us page 0808 301 7044 Monday to Sunday 8:30am - 8:00pm We may record and monitor calls. Lines now open Call me back More about later life mortgages Find out more about your later life mortgage options. Compare later life mortgages Which later life mortgage is right for you? Lifetime Mortgages (a type of equity release) and Retirement Interest Only Mortgages are sometimes grouped together as 'later life mortgages' or 'later life lending' products. While similar and often used for similar purposes, they are both loans secured against the home. It's important to understand the differences between the products before deciding what could be right for you. Find out more about our range of later life mortgages, or use our simple tool to find out which product might best suit your needs. Compare later life mortgages Which later life mortgage? Lifetime mortgage A type of equity release A lifetime mortgage is a loan secured against your home. There's no need to make monthly payments. The amount borrowed and the added interest isn't usually repaid until you die or move out of the home into long-term care. However, there may be cheaper ways to borrow money. If you're looking to release some money from your home to spend on you, or your family, this could be one option for you. About our Lifetime Mortgages Lifetime mortgage calculator Further support Making decisions about how to finance your retirement is important so it’s worth shopping around and using available guidance and advice, before you buy: Equity release options An alternative way to supplement your income is through equity release, a loan secured against your home. We offer a number of equity release options which you can find out more about. Equity release products Contact us about our later life mortgages To discuss our Lifetime Mortgages, a loan secured against your home, and if they're right for you. Call us on: 0808 115 8129 Monday to Sunday 8.30am to 8.00pm We may record and monitor calls Book a phone appointment Get independent advice If you’re looking for independent advice, you can connect to an independent financial adviser in your area through Unbiased. Visit Unbiased Facebook Instagram LinkedIn YouTube Twitter Accessibility Legal and regulatory information Privacy policy Cookie policy Security information Sitemap All our websites About us Making a complaint Group website Modern Slavery Statement Careers © Legal & General Group plc 2021 This Website uses Cookies We use cookies to make this website work, and to understand how you use it. This helps us to improve our service and your online experience. Cookies may also collect limited data about your interactions with websites that we may use to provide you with specific content, or to share relevant offers on other websites and social media. You can read our cookie policy to find out more about the cookies that we will store on your computer or device. You can easily customise your cookie settings at any time by using the link at the bottom of our website. For the best experience, we recommend that you accept all cookies. Customise Cookie Settings ✓ Accept All Cookies