Post Office Retirement Link™ affordability calculator

How much could your customer borrow?

Our alternative to equity release

Post Office Retirement Link™.

Find out more

Get an instant estimate of what your customer could borrow with a Post Office Retirement Link™ mortgage based on their pension income and financial commitments.

Your customer's assessable pension income will be calculated as follows:

  • Sole applicants – 100% of the total private (annuitised or defined benefit) and state pension
  • Joint applicants – 50% of the total private pension (annuitised or defined benefit) plus the lower of any state pension. For a private pension to be used there must be a provision to pay a dependant’s pension (who must be the joint borrower) of at least 50% of the current pension. 

During the application process we’ll ask for a more detailed breakdown of their pension income and outgoings, which may change the amount we could lend.

Need help completing the calculator? Read our affordability calculator help page.

 

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Please note the minimum assessable household income is £15,000. Your customer's assessable pension income will be calculated as follows:

Sole applicants – 100% of the total private (annuitised or defined benefit) and state pension

Joint applicants – 50% of the total private pension (annuitised or defined benefit) plus the lower of any state pension. For a private pension to be used there must be a provision to pay a dependant’s pension (who must be the joint borrower) of at least 50% of the current pension. 

We will not normally lend to applicants who currently have unsecured debt which exceeds half their annual assessable income even if it will be repaid in whole or part before completion. If the case has a lower debt to income ratio, it may still be sent for individual underwriter assessment.

This calculator provides an indication only. The actual figure we can lend your customer could depend on their credit score. This is not a legally binding mortgage offer and places the Bank of Ireland UK at no obligation to provide your customer with a mortgage.

Our alternative to equity release

Post Office Retirement Link™.

Find out more