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Adviser Centre

Flexible Lifetime Mortgage

At a Glance

CERTAINTY

An initial lump sum but with the possibility of further borrowing in the future, the choice is theirs.

 

WHAT IS IT?

Our Flexible Lifetime Mortgages offer an initial lump sum and where the maximum loan has not been taken, the difference may be available to draw in the future. No repayments are made for the lifetime of the loan, as the interest is added to the mortgage balance each month. The loan is only repaid when the property is sold, within 12 months after the death or entry into long term care of the last surviving borrower.

At no extra cost, your clients can also select to leave an inheritance to their beneficiaries if they wish, by protecting a percentage of the eventual net sale proceeds of their home.

 

 

CONSIDER IF YOUR CLIENTS

  • Are homeowners aged 60 and over.
  • Own a home in England, Wales or Scotland valued at £100,000 or over (£150,000 or over for ex-council properties).
  • Want to take an amount of money now, but with the option to take out additional money in later years (up to the maximum loan allowed).
  • Want a long term loan of £10,000 or more with a fixed interest rate. (Note, if additional borrowing is taken it may be at a different interest rate).
  • Understand and accept the risks involved with a lifetime mortgage.
  • Have thought about other options to borrow money before considering a lifetime mortgage.

 

Equity release 5 star award

ONLINE SERVICES

Our KFI portal is available 24/7 and the online application process gives an instant decision in principle as well as secure data transmission to our underwriting team. Use this link if you've not yet registered for our online services, however if you’re already set up the same login details can be used for the KFI portal and secure online application. You can view a demo of the new online application system.

For any help please call us on 03330 048444. Call charges will vary. We may record and monitor calls.

If you don't have the relevant qualifications, The Retirement Lending Advisers, a separate company who are lifetime mortgage specialists, can help. Please call them on 0808 252 4550. Call charges will vary. Calls may be monitored and recorded.

Customer Testimonials

See how our Lifetime Mortgages have made a difference for some of our customers and their families.