Retirement Interest Only (RIO) Mortgage Calculator

How Much Equity Can You Unlock?

Before You Continue Reading, Why Not Try Our Free Calculator and Get an Estimate of How Much Equity Is Tied Into Your Property?

Could Your Property Support You During Retirement?

Let’s See How Much You Can Release in Seconds

Calculator - Main (Age, Prop Val & Phone)
53Years
50Years95Years

Drag me

£100000
£0£1500000

Drag me

Easy to Use & Very Fast
  • Easy to Use
  • Safe and Secure
  • Very Fast
  • Instant Results

What is Equity Release?

A Quick Intro to Equity Release

Equity release is a financial term for a group of products that allow you to unlock the capital1 invested in your home.

It can be either a lifetime mortgage product or a home reversion scheme.

The lump-sum amount released is tax-free.

Introduction to Equity Release Basics
How to Calculate Equity Release

How it Works

How Do You Calculate Equity Release?

You calculate the amount of equity you can release from your home differently depending on which provider and product you choose.

An independent adviser or broker will provide you with a detailed analysis of your finances and calculated options for various equity release products you could consider.

The amount of equity you can release varies from 30.9% to 59.3%; however, many factors influence this amount, such as your age and home value.

The Pros

What Are the Benefits Of Using An Equity Release Calculator

The benefits of an equity release calculator can be significant.

A calculator will allow you to obtain a rough idea of how much equity you could release from your home by utilising a lifetime mortgage.

Here are a few benefits of our calculator:

  • The calculator is simple to use and will provide you with an immediate emailed result with an estimate of your potential loan-to-value2.
  • You’re under no obligation to purchase any products or accept any offers.
  • We keep your personal information secure, so you can rest assured our calculator is safe.
Benefits of Using an Equity Release Calculator

How Much Can You Unlock with a Retirement Interest Only Mortgage in 2024?

Are You Considering a Retirement Interest-Only (RIO) Mortgage? Find Out Why You Should Use an RIO Mortgage Calculator and if Age Limits Are a Factor. Read This So You Do not Get Caught.
  • Last Updated: 01 Feb 2024
  • Fact Checked
  • Our team recently fact checked this article for accuracy. However, things do change, so please do your own research.

Contributors:

Francis Hui

Let’s See How Much You Can Release in Seconds

Calculator - Main (Age, Prop Val & Phone)
53Years
50Years95Years

Drag me

£100000
£0£1500000

Drag me

Easy to Use & Very Fast
  • Easy to Use
  • Safe and Secure
  • Very Fast
  • Instant Results
Every Investor Promise Every Investor Promise

At Every Investor, our aim is to assist you in making informed financial choices. We are committed to maintaining rigorous editorial standards, yet it's important to note that our content may include references to our partner's products. For full transparency, here is an overview of how we earn money.

Do you want to boost your retirement income but do not know where to begin?

Why not opt for a retirement interest-only mortgage (RIO)?

With an RIO, you can access tax-free cash locked up in your home and only pay fixed interest installments monthly with no repayment term.

In This Article, You Will Discover:

    Sound too good to be true?

    Our research team constantly reviews the latest retirement interest-only mortgage information so we can keep you updated on the top industry information.

    Here’s what we discovered!

    RIO Mortgage Calculator

    How Is a Retirement Interest-Only (RIO) Mortgage Calculated in the UK?

    A retirement interest-only mortgage is calculated by taking your retirement income, age, property condition, and location into account.

    What Determines the Borrowing Limit in Retirement Interest Only Mortgages?

    When you apply for a retirement interest-only mortgage, your lender1 will calculate the amount you can borrow by checking your affordability.

    Your retirement income needs to cover your retirement expenses as well as the interest repayments on the RIO you apply for.

    Typically, you can expect to borrow between 4 to 5.5 times your annual retirement income; sometimes, this can be up to 8.52 times depending on the lender.

    What Is a Retirement Interest Only Mortgage Loan Calculator?

    An RIO Mortgage calculator is a tool you can use to obtain an estimate of how much you may be able to borrow using a retirement interest-only mortgage in a few short minutes.

    What Information Is Required for a Retirement Mortgage Interest Only Calculator?

    The information you need to provide to use an RIO mortgage calculator is the value of your home, the youngest homeowner’s age, which should be 55, and your property’s postal code.

    How to Use a Retirement Interest-Only Mortgage Calculator

    To use a retirement interest-only mortgage calculator, you’ll input the following information, and it’ll give you an estimate of much money you could borrow:

    • The value3 of your property, which must be at least £70,000.
    • The age of the youngest homeowner, who must be at least 55 years old.
    • Your property’s postal code, to obtain your property location which, must be in the UK.

    Once you’ve entered your information and hit submit, the calculator will send you an estimate of how much you could get with a retirement interest-only mortgage.

    Why Use a Retirement Interest Only Mortgages Calculator?

    You should use a retirement interest-only mortgage calculator to give you an estimate of how much equity release lenders may be willing to loan you.

    You can also use this calculator to better understand the impact of different interest rates on your repayment amounts.

    Frequently Asked Questions About Retirement Interest Only Mortgages

    Do RIO Mortgage Calculators Consider Age Limits?

    Is There an Interest Only Mortgage Calculator for Pensioners with Bad Credit?

    Final Thoughts on Using Interest Only Mortgage Calculators in Retirement

    Using a retirement interest-only calculator could be your first step to a more comfortable retirement.

    Retirement interest-only mortgages are the most recent addition to the field of retirement mortgage schemes and are a terrific alternative to lifetime mortgages.

    We strongly urge you to carefully consider all of your choices and consult with an independent financial advisor before making any final decisions.

    What are you waiting for? Try our RIO mortgage calculator for free today!

    Let’s See How Much You Can Release in Seconds

    Calculator - Main (Age, Prop Val & Phone)
    53Years
    50Years95Years

    Drag me

    £100000
    £0£1500000

    Drag me

    Easy to Use & Very Fast
    • Easy to Use
    • Safe and Secure
    • Very Fast
    • Instant Results

    Editorial Note: This content has been independently collected by the Every Investor team and is offered on a non-advised basis. While we try & keep the information up to date & correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services mentioned in the website. Learn more about our editorial guidelines.

    Found an Error? Please report it here.

    People Loved Reading
    Scroll to Top