How much can I look to borrow?
What is a retirement interest only mortgage
The Retirement Interest Only Mortgage (sometimes called a ‘RIO Mortgage’) is available to people over 55. It’s a loan secured against your home. You pay the interest each month, which means the amount you owe doesn’t increase over time.
You can use it for most purposes (including paying off an existing mortgage). What's more, you don't have to repay the loan until you, or the last remaining borrower, die or move permanently into long-term care.