There’s set eligibility criteria, which your client and their property will need to meet, for one of our Lifetime Mortgages.

Property, meaning anything to do with the property your client is looking to borrow money against.

Applicant, meaning anything to do with their personal circumstances such as their financial background.

There are additional applicant and property criteria that your client will need to meet in order for them to successfully apply for our Lifetime Mortgage products.

We have three types of Lifetime Mortgage: FlexibleOptional Payment and Income which all require the same eligibility criteria.

To apply for one of our Lifetime Mortgages your client needs to meet our minimum eligibility criteria. Your client must be able to answer yes to the following questions:

  • Are they aged 55 or over?
  • Are they living in (or buying) their home and have either a small or no mortgage?
  • Do they want to borrow a minimum of:
    • Flexible and Optional Payment: £10,000.
    • Income: An initial lump sum of £2,500 and a minimum of £200 a month for up to 10 years.
  • Is their property made of traditional masonry construction, in a good state of repair, free of any tenancy restrictions, and is it in England, Wales or mainland Scotland?
  • Is their home valued at minimum of £100,000?

During the application process please ensure that all the information provided on the application form also matches the Key Facts Illustration, any information which does not match up will result in a decline. 

You can also use our View - Pre application query form for non-standard properties. Once the form is completed, it's passed to our underwriting team to review.