Retirement Capital and Interest (RCI) mortgage

There are no valuation fees, product or advice fees with this mortgage.

The money you borrow is paid back, along with interest, each month over a fixed term, just like you would with a standard mortgage. You can borrow past the age of 75 and apply right up until your 95th birthday if you're a current Nationwide mortgage holder, or your 85th birthday if not. Moving to us from another lender? We give you free standard legal costs.

Could it be right for you?

This type of borrowing can be a good option if you can afford to pay back both the capital and the interest payments and want to pay it off by the end of the term.


You can apply for this mortgage from the age of 55, up until your 85th birthday (or 95th if you already have an existing mortgage with us), so long as:


  • you’re getting either a state, workplace or private pension
  • the property is, or will be, the main place you live.

Things you need to know

  • the RCI mortgage is only available for standard ownership
  • you can overpay by up to 10% of the total amount of the loan each year without incurring an Early Repayment Charge (ERC)
  • it's not an option for things like shared ownership or Right to Buy.
  • it's also not available if you live on the Isle of Man, Scilly Isles or Channel Islands.

The most you can borrow with our RCI mortgage is £500,000 and you can only borrow up to 50% of the property value.

Ready to take the next step?

Please call us on 0800 30 20 10 or ask in branch for a Later Life Mortgage Consultant.

When you contact us in the first instance you'll need the following:


  • income details (from state and private pension income including your providers name)
  • any pension dependency clause information your pension may contain (if a joint application)
  • buildings insurance information
  • council Tax Information
  • any other credit commitments you may eg. Credit Cards, Personal loans.

After a quick Eligibility and Affordability check , we’ll then be able to arrange an appointment for you with one of our Later Life Mortgage Consultants, in branch or via Nationwide NOW (a video link you find in many branches). Don’t worry this will all be set up for you in advance.

For this appointment we will then need to know about:

  • tax position
  • any savings and investments information
  • other assets
  • protection.

You may also be interested in...

Retirement Interest Only mortgage

With this type of mortgage, you only pay the interest on the amount you've taken out each month, meaning your monthly payments will be lower than a standard mortgage. And there’s no fixed term: The amount you borrowed won’t have to be paid back until the last remaining borrower moves into long-term care or dies.

Lifetime mortgage

With this type of mortgage there are no monthly payments to make every month, unless you choose to. The capital and interest will not be repaid until the last remaining borrower either moves into long-term care or dies. The term of this mortgage is not fixed. The Lifetime Mortgage could be ideal if you want to release some equity and if you would prefer not to make monthly repayments.

Think carefully before securing other debts against your home. Mortgages are secured on your home. You could lose your home if you do not keep up payments on your mortgage.