What is a lifetime mortgage?

A lifetime mortgage is a way for your client to release money from their home without them having to move. It’s a loan that’s secured against their home to give them a tax-free cash sum.

We offer three types of lifetime mortgages


With our Flexible Lifetime Mortgage your client won’t have to make any monthly payments. Instead the interest is added to the amount they owe each month. This means we charge interest on the loan plus any interest already added.

The lifetime mortgage is usually repaid from the sale of their home when they, or the remaining applicant (if the mortgage is in joint names) dies or moves out of their home into long term care. Of course, any money left over would be available for them or their beneficiaries.

Our Flexible Lifetime Mortgage - All you need to know includes full details about typical uses and product features, risk and benefits, and you can use it with your clients.

Is your client eligible for a lifetime mortgage?

If your client meets the following criteria, they could be eligible for a Legal & General Lifetime Mortgage:

  • Aged 55 or over.
  • Living in (or buying) their own home with a small or no mortgage.
  • Wants to borrow a minimum of £10,000 for our Flexible and Optional Payment Lifetime Mortgages or wants an initial loan amount of at least £2,500 with a monthly fixed income of a minimum £200 for 10 years for our Income Lifetime Mortgage.
  • A homeowner of a property worth at least £100,000.
  • Living in England, Wales or mainland Scotland.

Advising on a lifetime mortgage

Ready to advise your client?

Our online portal is available to generate a KFI 24/7.

Once you and your client are ready to apply, our application is designed to give an instant decision in principle, whilst sending the data securely to our underwriting team.

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