Air Mortgage Club, a distributor for equity release and later life advisers, confirmed that its members will now be able to access The Nottingham’s retirement lending proposition which includes its Retirement Interest-Only (RIO) products, available for borrowers over 55 years of age who have a reliable income allowing them to make interest payments on the loan now and in the future.
The Nottingham currently has five RIO products which allow clients to borrow up to 40% of the value of their home as a cash lump sum. These include four fixed rate deals – a two-year fixed at 3.40%, a three-year at 3.34%, a five-year at 3.55%, a seven-year at 3.85%, and a two-year discount at 2.99%.
The society has a range of support services available to advisers via its website, including affordability calculators, online trading service, a document library and an application manager.
