Legal & General Home Finance plans to launch a retirement interest-only mortgage in the first quarter of 2019.
Marie Catch (pictured), head of broker sales at Legal & General Home Finance, revealed that the provider will look to join up the later life process by providing both retirement interest-only and lifetime mortgage options.
Catch said: “Taking into consideration what’s there and the learnings from that we will look to release something a little bit different.
“We want to offer a suite of products that integrates and links to two markets.
“If a customer wants a lifetime product they’ve got it, if they want to pay interest on the loan they’ve got it, if they want RIO they’ve got it.”
So far entrants into the RIO market include Aldermore as well as a number of building societies, like Leeds.