PMS Mortgage Club and Sesame Network have announced the launch of an exclusive new three-year fixed rate Retirement Interest Only (RIO) mortgage with Buckinghamshire Building Society.
The RIO product – 3.39% fixed for three years until February 2023 – will be available for borrowers aged 55 and over that have been receiving a retirement income.
The groups announced there is no upper age limit and that the product will be available up to a maximum loan to value of 60% with no maximum term.
Sesame and PMS specialist lending relationship manager, Stephanie Charman, said: “We have seen increasing interest and appetite from advisers for more solutions in the lending into retirement market, which is why we’re pleased to be partnering with Buckinghamshire Building Society to provide our PMS and Sesame members with access to this exclusive new RIO product.
“Fixed rate RIO products are still relatively rare in this emerging market, so we feel that this competitively priced product could offer an attractive solution to our members and their customers.”
As part of Sesame Bankhall Group – a leading support services business for firms that are directly regulated by the FCA – PMS operates one of the UK’s largest mortgage clubs for directly FCA regulated advisers, while Sesame is one of the largest appointed representative (AR) networks in the country.
Buckinghamshire Building Society head of lending, Tim Vigeon, added that he was ‘delighted’ to partner with PMS and Sesame again.
He said: “As one of the first lenders to offer RIO mortgages, we have over the past 12 months found this product to be a welcome addition for intermediaries who advise their clients in retirement planning.”
Latest News
Perenna and the long-term fixed mortgage market
Content editor, Dan McGrath, spoke to head of product, proposition and distribution at Perenna, John Davison, to explore the long-term fixed mortgage market, the role that Perenna plays in this sector and the impact of the recent Autumn Budget
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories