Later Life

The Nottingham launches 10-year fixed rate RIO mortgage

The new product replaces the previous seven-year fixed product.

Rozi Jones
|
26th November 2019
Nikki Warren-Dean, Head of The Nottingham for Intermediaries
"We added retirement interest-only mortgages to our offering just six months ago and have already twice refreshed the range"

The Nottingham has launched a ten-year fixed rate retirement interest-only mortgage at 3.95%.

Its latest offering, which replaces the previous seven-year fixed product, comes with a free valuation and £995 fee.

Nikki Warren-Dean, head of intermediary sales at The Nottingham for Intermediaries, said: “We added retirement interest-only mortgages to our offering just six months ago and have already twice refreshed the range to ensure we are giving as much choice as possible for people in, or heading towards, retirement.

“The Nottingham is dedicated to helping people achieve their first property or move up the ladder, but also to supporting those who may be living in their last home too.

“Taking that into account, and broker feedback, is why we decided to introduce a ten-year fixed rate RIO product to our mortgage range - to ensure we are well positioned to help people make the right decisions to suit their circumstances.”

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