What if my circumstances change?

We understand life can take a different direction, and you may need our help in the future.

What if I need more money?

Find out how you can release more equity with drawdowns and further advances.

What if I have money available and want to repay part of my lifetime mortgage?

Find out how making repayments can impact your lifetime mortgage.

What if I want to fully repay my lifetime mortgage?

Find out how to repay your lifetime mortgage early.

What if I want to move home?

Find out what to do if you’re considering moving to a new home. 

How do I ask for a drawdown?

With our Flexible and Optional Payment Lifetime Mortgage, you can take out additional sums (minimum £2,000), from your agreed Drawdown Facility. For more details, see the Key Facts Illustration, Offer of Loan or the terms and conditions document your adviser gave you.

Please remember, additional withdrawals aren’t guaranteed. If you’d like to request one, you can fill out the form below or call us on 03330 048444. Lines are open Monday to Friday, 8.30am to 5.30pm. Call charges will vary. We may record and monitor calls.

Request a drawdown form 

Can I add or remove someone from my lifetime mortgage?

It’s possible to add someone as a joint borrower, for example if you get married or register a civil partnership (subject to our lending requirements at the time).

You’d need to fill out a new application form and you would both need independent financial and legal advice. You may also need to repay part of your lifetime mortgage, if it exceeds the amount we would to lend to a new borrower. You may choose to reduce or remove your Inheritance Protection instead of making a repayment. It’s also possible to remove someone as a joint borrower, but you must tell us as soon as possible.

You’d both need to have received independent legal advice and be in complete agreement. Alternatively, you might need to repay your lifetime mortgage in full and an Early Repayment Charge may apply.

To ask about adding or removing a borrower, please call us on 03330 048444 today.

When do I have to repay my lifetime mortgage?

Lifetime mortgages don’t have a set repayment date, making them different from residential mortgages. You don’t have to make monthly payments either.

Instead, lifetime mortgages are usually repaid from the sale of your home, or when the last borrower passes away or moves into long-term care. We realise this may be a difficult time for you, so we give you or your estate 12 months to repay the lifetime mortgage.

If Inheritance Protection has been taken out, you or your estate will keep the protected percentage amount, providing you’ve followed our terms and conditions.

In certain circumstances, you may need to repay your lifetime mortgage in full. You can find these in our terms and conditions. And remember, the full amount will include the original amount borrowed, any additional withdrawals, as well as any unpaid costs or interest.

When will I hear from you?

Every year, we’ll send you a statement to help you keep track of what you owe. It’ll show details of any transactions and the total amount to be repaid.

You don’t have to wait for your statement, though. You can ask about your lifetime mortgage at any time.

How do I let you know about a bereavement?

If someone close to you dies and they had a lifetime mortgage with us, please call 03330 048444. Lines are open Monday to Friday 8.30am to 5.00pm.

For more information, please read our bereavement guide.

How can I protect my home?

Taking out home insurance will help you protect your home and belongings.

See how our buildings and contents insurance could help you. There’s even a 15% discount on new home insurance policies for your first year. Terms and conditions apply.

View - Home insurance  

Useful documents

Here's some further information you may find useful:

PDF file: Drawdown request PDF size: 99KB  
If you’d like to request a drawdown from your lifetime mortgage, please print and complete this form by following the simple instructions.

PDF file: Lasting Power of Attorney guide PDF size: 236KB  
To find out more about Lasting Power of Attorney and how it could protect you and your family in the future, please download the lasting power of attorney leaflet.

PDF file: How to avoid falling for fraudsters guide PDF size: 206KB  
To find out more about how you can protect yourself from common scams, please download the scam leaflet.

PDF file: Customer assistance guide PDF size: 124KB  
Download our leaflet, to find out how to access free independent guidance on a range of issues including: health, finances and legal matters.

PDF file: Third party consent form PDF size: 92KB  
If you would like to give authority for a family member or friend to talk to us on your behalf, please print and complete this form by following the simple instructions.

PDF file: Adviser Consent Form PDF size: 91KB  
If you would like to give your authority for your adviser to talk to us on your behalf, please print and complete this form by following the simple instructions.

PDF file: Tariff of charges PDF size: 116KB  
To find out more about standard fees and charges on our Lifetime Mortgage products, please download the tariff of charges.

PDF file: Legal process guide PDF size: 876KB
Download our leaflet, to find out more on the legal process once you've received your lifetime mortgage offer (otherwise known as an Offer of Loan).

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