Is a Retirement Capital & Interest mortgage right for you?

Much like a standard repayment mortgage you pay back both interest and capital on a monthly basis.

The main difference is that you can borrow up to a higher age than on a standard mortgage but the product is still designed to repay your mortgage in full by the end of your term.


Features and benefits

  • There are no valuation fees, product or advice fees with this mortgage.
  • You have the flexibility to overpay up to 10% of the loan amount each year without incurring an Early Repayment Charge (ERC).
  • You can borrow up to £500,000.

You can apply for a Retirement Capital & Interest mortgage if:

  • You're an existing Nationwide mortgage holder aged 55 to 94, or
  • You’re a non-Nationwide mortgage holder, aged 55 to 84.
  • You're applying for a mortgage on your main residence only.
  • You are receiving either a state, workplace or private pension.

You cannot apply for a Retirement Capital & Interest mortgage if:

  • You live on the Isle of Man, Scilly Isles or the Channel Islands.
  • You are looking for things like shared ownership or Right to Buy. It is only available for standard ownership.



Ready to find out more?

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.

To help with these conversations, it would be great if you have to hand:

  • details of your pension income – if you have a partner, this should include what they will get if you die before them
  • details of any borrowing, such as loans or credit cards
  • what you pay towards buildings insurance and council tax.

Over the phone

Make an appointment with one of our later life mortgage consultants. They’ll talk through your options and make recommendations based on your individual needs.

Monday to Friday, 9am to 5pm.
Saturday 8:30am to 4pm.
Closed Sundays and bank holidays.

0800 146 100

Attend our online Later Life mortgage event

Find out more about borrowing in later life. We’re running an online Mortgages for Later Life event on the 25 February 2021. It’s free to attend – just complete the registration form.

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.