Members of Air, the equity release and later life mortgage club, will be able to access Nottingham BS’s retirement interest-only (RIO) deals.
The building society has five RIO mortgages which allow households to borrow up to 40 pc of the value of their home as a cash lump sum.
Fixed rates start from 3.34 per cent and a two-year discount mortgage deal is available at 2.99 pc.
Foundation
In the buy-to-let sector, intermediary-only lender Foundation Home Loans has joined Brilliant Solutions’ mortgage club.
Foundation’s range of buy-to-let criteria includes an 80 per cent loan-to-value mortgage for property investors who are purchasing or refinancing using a limited company structure.
The deal has an interest cover ratio of 125 per cent of the pay rate for five-year fixed rates, there is no maximum borrower age, newly-incorporated limited companies are accepted and there is a maximum loan size of £1.5m.
