Note:

On this page, you can view and compare rates for our Lifetime and retirement mortgages.

If you want to see more from our range of mortgages, visit our mortgage rate finder

You can only secure your rate once you’ve submitted your mortgage application. Mortgage rates can be changed or withdrawn at any time.


Lifetime mortgage rates

The Lifetime mortgage is a type of equity release. You don't have to make any monthly payments, unless you choose to. The loan is usually repaid when the last borrower moves into long-term care or dies.

The maximum loan amount and interest rate depends on your age and how much your property is worth.

You can borrow between £10,000 and:

  • £1 million (if you live in England) or
  • £515,000 (if you live in Wales and Scotland).

There is no booking or product fee for this mortgage.

Information and rates for the Nationwide Lifetime mortgage.
Deal period Maximum Loan to Value (LTV) Rate range
Fixed for life Age dependent Between 3.03% to 4.22%

Retirement Interest Only mortgage rates

A Retirement Interest Only mortgage is very similar to a standard interest-only mortgage, in that you make interest payments monthly. The money you borrow only has to be repaid once the last remaining borrower dies or goes into long term care.

You can borrow:

  • a maximum of £500,000
  • a minimum of £10,000, or £1,000 if switching your existing Nationwide mortgage to a Retirement Interest Only mortgage with no additional borrowing
  • up to 50% loan to value (LTV).

There is no booking or product fee for this mortgage.

Information and rates for the Nationwide Retirement Interest Only (RIO) mortgage.
Mortgage type Deal period Initial rate Variable SMR (after deal period) Overall cost for comparison
Fixed 2 years 2.39% 3.59% 3.4% APRC
Fixed 5 years 2.59% 3.59% 3.2% APRC
Fixed 10 years 3.39% 3.59% 3.5% APRC
Tracker 2 years 2.49%
(Base rate +2.39%)
3.59% 3.4% APRC

Retirement Capital & Interest mortgage rates

A Retirement Capital & Interest mortgage lets you pay back your capital and interest each month, just like you would with a standard repayment mortgage. This mortgage is for a fixed term.

You can borrow:

  • a maximum of £500,000
  • a minimum of £10,000, or £1,000 if switching your existing Nationwide mortgage to a Retirement Capital & Interest mortgage with no additional borrowing
  • borrow up to 50% loan to value (LTV).

There is no booking or product fee for this mortgage.

Information and rates for the Nationwide Retirement Capital and Interest (RCI) mortgage.
Mortgage type Deal period Initial rate Variable SMR (after deal period) Overall cost for comparison
Fixed 2 years 2.39% 3.59% 3.4% APRC
Fixed 5 years 2.59% 3.59% 3.2% APRC
Fixed 10 years 3.39% 3.59% 3.5% APRC
Tracker 2 years 2.49%
(Base rate +2.39%)
3.59% 3.4% APRC

Glossary of terms

To get advice about our Lifetime and retirement mortgages 

You need to be: 

  • aged 55 to 84 (or 94 if you already have a Nationwide mortgage)
  • applying for a mortgage on your main residence only

If you want to apply for a retirement mortgage, you’ll also need to be:

  • receiving a state, private or workplace pension. 

Attend our releasing equity with Nationwide event

On the 7 December 2021, we're hosting a free, online event about releasing equity with Nationwide. Our specialist mortgage advisers will talk you through our range of borrowing options, plus you can ask any questions you might have.

Speak to us and find out how to apply

To find out if our Lifetime and retirement mortgages are right for you, and how much equity you could release from your home, get in touch.

We can arrange an appointment for you with one of our specialist mortgage advisers.


Member stories: Helping Andy and Christine enjoy retirement

With help from our mortgages for over 55s, they’re living retirement, their way.


Important:

Think carefully before securing other debts against your home. Your mortgage is secured on your home, which you could lose if you do not keep up your mortgage payments. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.