Marsden Building Society has announced a new round of enhancements to its Retirement Interest Only (RIO) mortgage products, introducing free valuations on all cases and fee-assisted legal services for remortgages.

The latest improvements are part of the society’s ongoing efforts to increase the flexibility and appeal of RIO products to older borrowers. Aimed at clients aged 55 and over, RIO mortgages have seen growing interest as more retirees look for ways to manage finances in later life, whether by releasing equity or supporting younger family members.

These incentives build on a series of recent criteria changes introduced by the lender. Marsden now accepts applications for properties designated for those aged 55 and over—subject to referral in the case of flats or mixed tenure schemes—as well as second homes used by family members and properties with substantial land.

Katie Broome, product manager at Marsden Building Society, said: “We understand the increasing need for flexible and affordable solutions that support those who require a mortgage in later life.

“Whether they’re taking out a mortgage to release equity or to help a family member get onto the property ladder, we work closely with our broker partners to better understand the needs of our borrowers. We hope that these extra additions will help make a RIO mortgage more accessible for clients.”