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Mortgages

Retirement Interest-Only Mortgage

Supporting those in ministry as they plan for later life.

This mortgage is for individuals in Christian ministry aged 50 and over who are either within 12 years of retirement or already retired. It enables you to purchase a home you plan to live in long-term, while making interest-only payments throughout the life of the loan.

The loan is repaid when the property is sold, which typically happens upon your death or when you move permanently into long-term care. This approach offers security in later life without the pressure of full mortgage repayments.

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Your property may be repossessed if you do not keep up repayments on your mortgage.

Open to those aged 50 and over who are within 12 years of expected retirement from Christian ministry, including missionaries. Applicants must be able to evidence current or projected pension income for affordability assessment.

There is no fixed term. The mortgage is repaid when the borrower (or both borrowers, if a joint application) dies or moves permanently into long-term care. At that point, the property is sold, and the loan is repaid from the proceeds.

Interest is payable in full each month. This means the balance remains the same throughout the life of the loan unless capital repayments are made.

Rates vary based on individual circumstances and will be discussed with your mortgage adviser. See our interest rates section for details.

You may make lump sum reductions in line with the product’s terms. If no capital is repaid, the mortgage amount remains unchanged and is fully repaid upon sale of the property in the future.

The mortgage is not portable to a new property. However, if you choose to move, it may be possible to redeem your existing RIO mortgage and apply for a new one with Kingdom Bank. In such cases, the usual Early Repayment Charge would be waived.

Consent-to-Let is permitted up to the point of retirement. After this point, you must live in the property.

This mortgage can be used to purchase a home or repay an existing mortgage. It cannot be used to raise capital for purposes such as home renovations or personal spending.

Mortgage information

2-Year Fixed Rate

5-Year Fixed Rate

Standard Variable Rate

Discounted Variable Rate*
Rate fixed for 2 years 5 years N/A N/A
Interest rate 5.35% 5.55% 6.45% 5.40%
APRC 6.63% 6.44% 6.79% 6.47%
APRC details Based on a mortgage borrowing amount of £100,000 over 25 years at 5.35% for the first 2 years, increasing to the Bank’s Standard Variable Rate (6.45%) for the remainder of the mortgage. Based on a mortgage borrowing amount of £100,000 over 25 years at 5.55% for the first 5 years, increasing to the Bank’s variable rate (6.45%) for the remainder of the mortgage. Based on a mortgage borrowing amount of £100,000 over 25 years at 6.45%. Based on a mortgage borrowing amount of £100,000 over 25 years at 5.40% discounted for the first 3 years, increasing to the Bank’s variable rate (6.45%) for the remainder of the mortgage.

2-Year Fixed Rate

5-Year Fixed Rate

Standard Variable Rate

Discounted Variable Rate*

* The discount applies to our Standard Variable rate and is for a 3-year term, after which point it will revert to our Standard Variable rate. Although the level of discount will stay the same for the first 3 years, the actual rate payable may change in line with any changes to our Standard Variable rate.

Mortgages with a purpose

At Kingdom Bank, your mortgage is more than a financial transaction. It is a partnership in Kingdom work. The funds we lend support those in ministry, mission and Christian service, helping them secure a home while continuing to serve God’s people.

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Understanding your calling

We specialise in working with church leaders, missionaries and Christian workers. We take time to understand your unique situation and assess applications personally, rather than relying solely on standard income models used by mainstream lenders.

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Support from people who care

Our experienced team is here to walk with you every step of the way. From your first enquiry to completion, we offer honest advice, prayerful support and a personal service rooted in our shared faith.

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To see whether Kingdom Bank could provide you with a mortgage, please complete the form below. One of our friendly Christian mortgage team will be in touch to discuss your plans.

We're a Christian bank that helps churches grow

101

new mortgages provided in 2024.

£ 26.7 m

given in mortgages for Christian ministry in 2024.

826

new savings accounts opened in 2024.

95 %

Customer Satisfaction (CSAT) score.

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