Retirement Interest Only Mortgages

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A number of lenders have been quick to launch (or relaunch) Retirement Interest Only [RIO] mortgages following the recently amended definition of lifetime mortgages by the Financial Conduct Authority [FCA]. As the FCA no longer defines RIOs as lifetime mortgages lenders have been given the ‘go ahead’ to develop/re-develop such schemes. As implied, such schemes are not new to most established lenders, a number operated similar products until an earlier FCA definition which included RIOs…

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Partner - Baxters Business Consultants - a business consultancy undertaking marketing, training, freelance journalism and expert witness services to the residential mortgage lending, building society and financial service industry (April 1993 to date) - www.baxtersbc.co.uk.

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