Get set for RIO
Your 3 step application
We’re here to help at every step of the RIO application process. The following 3 step guide takes you through the key stages and your BDM is always on hand to answer any questions or provide extra assistance should you need it.
1.The first thing to do is go through our RIO Guidance Notes with your client. This is part of our commitment to supporting you and your clients with clear information around RIO.
2.Next, log in to process a new Decision in Principle (DIP). Please bear in mind that:
- if your client doesn’t select a lending term, you should enter 40 years
- we also need details of income into retirement. To provide these, please:
- select 'Yes' when asked 'Are you aware of anything that will, or is likely to, change your income or expenditure during the term of the mortgage?'
- type 'RIO' in the 'Income and Expenditure change details' box
- add the additional income into retirement details into the additional information notes field.
3.Take your client through their Mortgage Illustration along with the supplementary information and submit a full application.
Once the application’s been received, we’ll send a letter to your client summarising the points from the RIO information checklist you’ve discussed with them. This letter will also have the Mortgage Illustration supplementary information attached.
In order to continually improve our service we will contact your client prior to completion in order to get their feedback