Optional Payment Lifetime Mortgage

Our Optional Payment Lifetime Mortgage is different to our Flexible Lifetime Mortgage because it allows your client to pay some, or all, of the monthly interest by Direct Debit.

There’s no affordability assessment and your client can stop making monthly interest payments at any time. Paying the interest will reduce the overall cost of the loan.

COVID-19 update for OPLM:

During this difficult period we've changed our process to allow our customers to miss any number of payments up to and including 30 June 2021, which won’t count towards their 6 missed payments total allowed in the product terms. We hope this will help those who find themselves in financial difficulty due to COVID-19. If they wish, all OPLM customers continue to have the ability to stop making monthly interest payments at any time and convert to interest roll-up.

Dual valuation approach

We’ve introduced a dual valuation approach. For new applications you're now able to select the client’s preference for a physical or desktop on Apply Online.