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The Cambridge brings out fixed rate RIO options
['Anna Sagar']
Mortgage Solutions
Cambridge Building Society has added a duo of fixed rate retirement interest-only (RIO) mortgage deals to its later life lending range.
The deals include two- and five-year fixed rates, which will be available to customers aged 55 and over.
The maximum loan size is set at £750,000, with the loan to value (LTV) coming to 55%.
The deals will be available alongside its existing variable rate RIO deals and interest-only offering up to the age of 80.
There is also no upper age limit on a repayment basis and undrawn pension pots and investment portfolios can be used to support affordability.