As of May 2022, Halifax Retirement Interest Only Mortgage Rates are still very low.
- 3.11% fixed for life
- Repay a current interest only mortgage
- Up to 70% loan to value
- No early repayment charges
- Free valuation
Halifax Retirement Mortgages with monthly repayments
A Retirement Interest Only Mortgage is a mortgage product that allows customers to repay the interest on their mortgage during retirement, while the capital is either repaid by the sale of the property or from other savings. This type of mortgage can offer customers significant advantages compared to traditional repayment mortgages, particularly if they are looking to downsize in retirement. However, it is important to be aware of the potential risks before taking out a Retirement Interest Only Mortgage.
One of the key advantages of a Retirement Interest Only Mortgage is that it can provide customers with greater flexibility in retirement. They can choose to make lower monthly payments than would be required on a repayment mortgage, freeing up cash for other purposes. Retirement Interest Only Mortgages can also be used to release equity from a property, which can be used to fund home improvements or to support a family member onto the property ladder.
Another advantage of Retirement Interest Only Mortgages is that they can help to reduce inheritance tax liabilities. If the property is sold after the customer’s death, the proceeds can be used to repay the mortgage and any remaining equity will pass to their beneficiaries free of Inheritance Tax. This is because Retirement Interest Only Mortgages are not currently subject to Inheritance Tax rules.
Lifetime Mortgages Interest Only with interest only monthly payments
RIO Mortgages Over 60 that is not a lifetime mortgage
Interest Only Mortgages For Over 65s to repay a current interest only mortgage
RIO Mortgages For Over 75s where older mortgage borrowers prove retirement income
RIO Mortgages For Pensioners through an independent mortgage broker
Release Equity From House with mortgages retirement interest only payments
Retirement Mortgages with an affordability assessment
Mortgage Advice Newcastle for a standard interest only mortgage
RIO Mortgage For Over 70 only mortgages retirement interest
Halifax Retirement Mortgage equity release
Retirement Interest Only Mortgages Halifax with monthly interest repayments
Retirement Mortgages Halifax with lower rates than lifetime mortgages
Halifax Retirement Interest Only Mortgage Rates based on retirement income
Halifax Retirement Interest Only Mortgage with monthly interest payments
Halifax Retirement Interest Only Mortgage Rates
Halifax is a division of Bank of Scotland plc.
Bank of Scotland plc is registered with company number SC327000.
Our registered office is at The Mound, Edinburgh, EH1 1YZ.
We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.