Lifetime Mortgages

An Introduction to Lifetime mortgages

A lifetime mortgage equity release is a loan secured against your property. This can provide you with a tax free lump sum or a regular income to spend as you wish. No monthly repayments need to be paid unless you choose to. The minimum age is 55.

Interest is added to the lifetime mortgage at a fixed rate. The loan plus interest is eventually paid back when the home is sold, usually when both you and your partner move into long term care or pass away. You can typically release between 20-56% of the value of your home with a lifetime mortgage, depending on your age and postcode.

Drawdown Lifetime Mortgages Apply For Equity Release

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A clear overview

Advantages & Disadvantages Of Lifetime Mortgages

A lifetime mortgage gives you the choice of a cash lump sum or income with no monthly repayments to meet.

You retain full ownership of your home

Lifetime mortgages are available to younger people (aged 55+)

No negative equity guarantee

Some lifetime mortgage plans let you guarantee an inheritance for your family

Portability means you may be able to move the mortgage to a new property subject to the lenders acceptance

All equity release plans are regulated by the Financial Conduct Authority

The amount you leave as an inheritance will be reduced

Any unpaid interest will be compounded and can grow quickly

You can’t usually raise as much money with a lifetime mortgage as you could with a reversion plan, especially at younger ages

If you repay the lifetime mortgage early, you may have to pay an early repayment charge.

Committed to your

Financial Safety

Equity release is now safer than ever due to the FCA's regulation of Lifetime Mortgages and Drawdown Lifetime Mortgages, as well as the requirement for specialized qualifications for advisers. The Equity Release Council (formerly Safe Home Income Plans) protects plan holders and promotes safe equity release plans through their Code of Practice, which has been endorsed by Age Concern.

The Equity Release Company prioritises customer safety and only recommends plans that meet the standards and guarantees set by the Equity Release Council.

Some of your guarantees include:

The right to remain in your home for as long as you choose

The freedom to move to another property without financial penalty (subject to lenders’ criteria)

That you will never fall into negative equity no matter what happens to house prices in the future

Independent Legal Advice from a solicitor of your choice

Apply For Equity Release

We prioritise customer safety and only recommends plans that meet the standards and guarantees set by the Equity Release Council.

Free, No-obligation advice

Unlock your home's equity today

Whether you're looking to make home improvements, pay off debt, or simply enjoy your retirement to the fullest, equity release can help. Our team are here to guide you through the process and help you make the best decisions for your unique situation. Fill out our form today to get started.