5.03% Prudential Lifetime Mortgage or RIO Retirment Interest Only

Release money from your home with a Prudential Lifetime Mortgage
You don’t need to make monthly payments unless you want interest-only payments
No early repayment charges
RIO retirement interest-only mortgages
Use the equity released for anything you like
Continue to stay in your house
Help a family member buy their first home
5.03% MER Fixed for life from October 2025

How much money can I borrow?

You can get 60% of your property’s valuation. For example, if your home is valued at £250,000, you can get £150,000.

Your Requirements
How Much Would You Like Release Or Borrow?*
Estimated Value Of Your Home/Property?*
Total amount of mortgage/loans on your property
About You
Name*
First Last
Date of Birth*
Day
Month
Year
Contact Phone Number:*
Your Email Address:*
First Line Of Your Address:*
Your Postcode:*

Recent Reviews

William from Birmingham

My son knew a guy who owned six pubs. Because of successive lockdowns due to the COVID-19 coronavirus, he had to sell his holiday home in Cornwall quickly.

My equity release money enabled him to buy his flat at 35% under market value. Not only do my family members share the use of a holiday home, but the rental income is also significantly more than the interest on the equity release.

Mr Shaw from Bradford

I thought I would have to sell my home to repay my mortgage as the bank wanted its money back. With the money left, I could only afford a flat, and I would have been further away from my daughter and her children.

Downsizing was a bad idea for me.

My lifetime mortgage was ideal for me, as I had no monthly repayments and was able to pay off my old mortgage. I saved the cost of moving to a new flat, which I would have paid to move to a place I did not want.

The no-negative-equity guarantee and the assurances of the Equity Release Council were fundamental to me. I am better off each month and have some tax-free cash ready if repairs to the house are necessary.

Prudential retirement interest-only mortgages

Mr Howarth from Leeds

I am healthy and have a good income from my pensions for later life. I decided to release money from my unencumbered home with a retirement interest-only mortgage (RIO mortgage) so I could get a new kitchen and bathroom, and give money to my children so they could move house and buy bigger homes.

I had no issues with the minimum or maximum age requirements or affordability. The interest rate was very low, like a prime conventional mortgage from a bank or building society.

The monthly payment was tiny compared with the rest of my outgoings. The whole process was authorised and regulated by the Financial Conduct Authority.

Mrs Yardly from Sheffield

I had an old, tired car and an unreliable central heating system. Repair bills continually increased, leaving me with less money for holidays and other lovely things.

A friend said I should consider equity release, but I was put off by the horror stories of the roll-up/compounded interest destroying people’s homes.

When I did my own homework, I found that interest rates were very low in the 2025 equity release, and the negative press focused on people who high rates had ripped off in the past.

Even if my house price only increased slightly, the roll-up interest would be covered. The equity release enabled me to get a nice 3-year-old car and a new boiler, so I was not wasting money on repairs all the time!

Mrs Heart from Aberdeen

I was struggling to pay my mortgage and had no money left for emergencies at the end of the month, let alone saving for a holiday. I had investigated home reversion plans, but they did not appear to be the right solution.

Equity Release for older borrowers with no monthly repayments was precisely what I wanted, and the interest rate was very low. I was able to pay off my mortgage.

I live in an area where house prices are going up nicely, so keeping 100% ownership of my home is wise. I am confident that my house price appreciation will be much bigger than my roll-up interest.

No product fee prudential equity release

Cash tied up in home prudential lifetime mortgages

Does Prudential offer Equity Release?

Yes, Prudential Equity Release is 1.95% APR.

Does Prudential do retirement remortgages for those over 60?

Yes, a Prudential retirement remortgage over 60 is a 3.63% MER variable.

Does Prudential do a pensioner remortgage over 60?

Yes, Prudential pensioner remortgages for over-60s are available at a 3.26% APR fixed for life.

Does Prudential offer later-life remortgages for those over 60?

Yes, a Prudential later life remortgage for homeowners aged 60 and above is available at a fixed 3.59% APRC.

Does Prudential have the best remortgages for people over 60?

Yes, Prudential is the best remortgage for retired over 60 and is 3.08% AER fixed for life.

Does Prudential offer remortgaging options for people over 60?

Yes, a Prudential remortgaging option for retired homeowners aged 60 and above is 3.14% AER, fixed for life.

Does Prudential provide mortgage calculators for people over 60?

Yes, a Prudential mortgage calculator for retired homeowners aged 60 and above will display a 3.28% AER variable rate.

Does Prudential offer an RIO mortgage for those over 60?

Yes, Prudential RIO mortgages over 60 are 3.72% AER fixed.

Does Prudential offer retirement interest-only mortgages for those over 60?

Yes, a Prudential retirement interest-only mortgage for retired homeowners aged 60 and above has a fixed APR of 3.67% for life.

People often seek out interest-only lifetime mortgages, lump-sum lifetime mortgages, or lump-sum lifetime mortgages. However, the Telegraph, like Fortify Insurance Solutions, is keen to see paperwork showing your situation in the form of pension statements.

Equity Release LTV

The older you are and the sicker you are, the more cash you can release

UK Equity Release Scheme Providers

Key Solutions
New Life
Sun Life Plans
Stonehaven Mortgage
Zurich

Equity Release LTV – similar to a Prudential Lifetime Mortgage

50% lump sum lifetime mortgages LV Liverpool Victoria
50% loan to value (LTV) lump sum lifetime mortgages Bower
30% loan to value monthly payment lifetime mortgage United Trust Bank

Does Prudential offer Pensioner Mortgages?

Yes, Prudential Pensioner Mortgages are 2.2% APR.

The 1st and 2nd charge lenders will want to know if the property is a Freehold terraced house or a Leasehold flat with a share of freehold, and if the occupier is an Assured shorthold tenancy tenant.

Lenders for Equity Release

It is common to find people searching for monthly payment equity release, lifetime mortgage, or home reversion plans. However, Age Partnership, like Aegon, is eager to see evidence of your circumstances through bank statements.

Lifetime Mortgages
Canada Life Lifestyle Gold Flexi
Nationwide Equity Release Schemes
Saga home reversion schemes
Lifetime Mortgages for Pensioners

Canada Life Lifestyle Gold Flexi
Just Retirement Interest Only Lifetime Mortgage
L&G Legal & General Flexible Max Scheme
Nationwide Equity Release Plans
TSB Lifetime Mortgage

NatWest Interest Only Lifetime Mortgage
Saga Equity Release Plans
Age Partnership Interest Only Lifetime Mortgage
Hodge Equity Release Schemes
Liverpool Victoria LV Equity Release Schemes

Stonehaven Interest Select Plan
HSBC Equity Release Plans
Lloyds Bank Equity Release
Barclays Equity Release Schemes

L&G Legal & General Premier Flexible Lifetime Mortgage
Prudential Lifetime Mortgage
Stonehaven Lifetime Mortgage
Lloyds Bank Equity Release Plans
NatWest Interest-Only Lifetime Mortgage

The Downside of a Prudential Lifetime Mortgage

Does Prudential offer Retirement Mortgages?

Yes, Prudential Retirement Mortgages are 2.13% APRC.

Monthly payment equity release can reduce your estate value. A lifetime mortgage with a flexible drawdown cash release may impact your ability to claim entitlements.

You may need to pay a legal fee, and you could have higher rates to pay with some schemes.

Benefits of a Prudential Lifetime Mortgage

It could help tax planning, and interest rates can be quite low. A low-cost way of helping the family to buy their own home or pay off their debts, like loans and credit cards, so you have lower monthly outgoings. A Prudential Lifetime Mortgage can be a very low overall cost.

Does Prudential do Equity Release Under 55?

Yes, Prudential Equity Release Under 55 is 2.15% APR.

https://www.pru.co.uk/

“Prudential” is a trading name of Prudential Distribution Limited.

Prudential Distribution Limited is registered in Scotland. Registered Office at Craigforth, Stirling FK9 4UE. She registered the number SC212640.

We are authorised and regulated by the Financial Conduct Authority. Prudential Distribution Limited is part of the same corporate group as the Prudential Assurance Company.

The Prudential Assurance Company and Prudential Distribution Limited are direct/indirect subsidiaries of M&G plc, incorporated in the United Kingdom.

These companies are not affiliated with Prudential Financial, Inc., a company whose principal place of business is in the United States of America or Prudential plc, an international group incorporated in the United Kingdom.

Does Prudential offer Lifetime Mortgages?

Yes, a Prudential lifetime mortgage is at 1.9% APR. Prudential Lifetime Mortgages can have a loan-to-value (ltv) of 60%. – Updated For May 2025

Find out if a Prudential Lifetime Mortgage can help you release the money tied up in your home. Rates are now very low and can be fixed for the life of the mortgage.

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