Repaying part of your lifetime mortgage
Options for repaying part of your lifetime mortgage
Making repayments will reduce the amount you owe and the total amount of interest charged over the duration of your lifetime mortgage.
You can make a repayment by calling our Customer Service team on 03330 048 444. Monday to Friday 8.30am to 5.30pm. We may record and monitor calls.
Optional Partial Repayments
You can make Optional Partial Repayments on your lifetime mortgage. This will reduce the amount you owe without paying any Early Repayment Charge.
You can choose to make an Optional Partial Repayment at any time if:
- You've got our Interest Roll Up Lifetime Mortgage (was Flexible Lifetime Mortgage) or
- You’ve stopped making monthly interest payments on your Optional Payment Lifetime Mortgage
You can repay up to 10% of the total amount borrowed (including additional borrowing) each year.
Partial repayments
You can make a partial repayment on your lifetime mortgage. This will reduce the amount you owe, but you may need to pay an Early Repayment Charge.
You can choose to make a partial repayment if:
- You've had our Interest Roll Up Lifetime Mortgage and have reached the annual limit of your Optional Partial Repayments.
- You have an Optional Payment Lifetime Mortgage and want to make payments in excess of your monthly repayments. Or, you have stopped making monthly payments and have reached the annual limit of your Optional Partial Repayments.
Request to make a partial repayment
You can request to make a partial repayment by calling our Customer Service team on 0333 004 8444. Monday to Friday 8.30am to 5.30pm. We may record and monitor calls.
Common partial repayment questions
The allowance is 10% of the amount that you have borrowed for your initial loan and any additional borrowing. Your annual statement has these details so that you are able to calculate it, or you can contact us to find out.
Yes, we need to be sure that the money we're receiving is from a legitimate source. We’ll need you to complete a donor form and share photo ID of the person who’s gifting the funds before you make the payment.
Contact our customer service team, who'll be able to help you with your request on 03330 048 444, Monday to Friday 8.30am to 5.30pm. We may record and monitor calls.
Yes, if we have your attorney registered with us, they can complete the online enquiry form. If we don’t have your attorney registered with us, please call 03330 048 444. Monday to Friday, 8.30am to 5.30pm. We may record and monitor calls. Visit Power of Attorney and lifetime mortgages for further information.