Our products
An over 50s mortgage is a loan secured against your client's home that is usually repaid when they die or move out of their home into long-term care.
Flexible Lifetime Mortgage
Allows clients aged 55 and over to release equity from their home without having to move or make any monthly payments. The interest rolls up for the life of the loan.
Optional Payment Lifetime Mortgage
Allows clients aged 55 and over to release equity from their home and pay some or all of the monthly interest which will reduce the amount of interest that rolls up.
Payment Term Lifetime Mortgage
Allows your clients to release equity from their home and pay all the interest each month for a chosen payment term which may reduce the overall cost of the loan.
Retirement Interest Only Mortgage
A type of residential mortgage that allows clients aged 55 and over to release equity from their home, which they must pay all the monthly interest each month for the life of the loan.
Energy Saver Cashback offer
Helping your clients
We’ll provide 10% cashback on the total cost of home energy efficiency improvements, up to £1,000 on an initial advance or £200 on a lifetime mortgage drawdown.
Compare our later life mortgages
Our Lifetime Mortgages and Retirement Interest Only Mortgage may appear similar, but it's important to understand the differences between each product. We've pulled out some of the key points below.
| Our Lifetime Mortgages | Our Retirement Interest Only Mortgage | |
| Age | 50+ for our Payment Term Lifetime Mortgage 55+ for our Flexible and Optional Payment Lifetime Mortgages |
55+ |
| Minimum loan amount | £10,000 | £10,000 |
| Maximum loan amount | Determined by your client's age and property value. For our Payment Term Lifetime Mortgage an affordability assessment is also required. |
Up to 60% of the value of your client's home, subject to an affordability assessment. |
| Minimum property value considered | £70,000 or £100,000 for flats, maisonettes, ex council, ex housing association or ex Ministry of Defence properties. | £70,000 or £100,000 for flats, maisonettes, ex council, ex housing association or ex Ministry of Defence properties. |
| Is there an affordability assessment? | Yes, for our Payment Term Lifetime Mortgage No, for our Flexible and Optional Payment Lifetime Mortgages |
Yes |
| Is the loan secured against my client's home? | Yes | Yes |
| When do they have to repay the full amount of the loan? | The loan is usually repaid when they die or move out of their home into long-term care. | The loan is usually repaid when they die or move out of their home into long-term care. |
| Do they have to pay interest every month? | No, for our Flexible and Optional Payment Lifetime Mortgages, the interest is charged on the loan amount plus any interest already added, so the amount owed will increase quickly over time. However, with our Optional Payment Lifetime Mortgage they can choose to pay off some or all of the monthly interest to prevent this. Yes, for our Payment Term Lifetime Mortgage, they have to pay the full interest monthly for their chosen payment term. As a last resort, their home may be repossessed if they fail to keep up repayments. |
Yes - the interest due is payable in full by them each month. As a last resort, their home may be repossessed if they fail to keep up repayments. |
| Is the interest rate fixed? | Yes. The interest rate is fixed for the life of the loan. | Yes. The interest rate is fixed for the life of the loan. |
| Our Lifetime Mortgages | Our Retirement Interest Only Mortgage |