Is Retirement Capital and Interest (RCI) 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 off the entire mortgage by the end of the term.

Things you need to know

  • there are no valuation fees, product or advice fees with this mortgage.
  • the (RCI) mortgage is only available for standard ownership. It's not an option for things like shared ownership or Right to Buy.
  • 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 also not available if you live on the Isle of Man, Scilly Isles or Channel Islands.

Can I apply for a Retirement Capital and Interest (RCI) Mortgage?

  • current Nationwide mortgage holders can apply from 55 up until their 95th birthday.
  • non-Nationwide mortgage holders can apply from 55 up until their 85th birthday.
  • you must be receiving either state, workplace or private pensions.
  • your property needs to be your main residence.

If you’re ready to apply?

Please call us on 0800 30 20 10
Monday to Friday 8am-8pm.
Saturday 9am-5pm.
Closed Sundays and Bank holidays
or ask in branch for a Later Life Mortgage Consultant.

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.

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


  • 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
  • any other credit commitments you may have eg. Credit Cards, Personal loans
  • information on any savings, investments or other assets that you have
  • information on your tax position
  • details of any life insurance policies you have

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.