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Our Lifetime Mortgages can be taken as a lump sum with drawdown options or as a monthly income. Choose from Flexible Lifetime Mortgage, Optional Payment Lifetime Mortgage, or Income Lifetime Mortgage.

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Client's age

Your client must be over 55 to use this lifetime mortgage calculator.

90
85
80
75
70
65
60
55
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Property value

This property must be your client's primary residence to qualify for a lifetime mortgage.

£3,000,000
£2,500,000
£2,000,000
£1,500,000
£1,000,000
£500,000
£100,000
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Loan type

Your client can choose to take the maximum available now in one go, or in smaller amounts as and when they need it.

Inheritance protection

Your client can choose to protect a percentage of the property sale price after deduction of all sale costs, to pass on to any beneficiaries when they die.

Please select the amount they would like to protect.

Your client should consider discussing the impact of a lifetime mortgage on their inheritance with their family or beneficiaries before making a decision.

Max amount your client can borrow after inheritance protection is , which must include at least £2,500 initial loan.

100%
75%
50%
25%
0%

Selecting this option will reduce the amount your client can borrow.
Inheritance Protection is a percentage of the Net Sale Proceeds.
Net Sales Proceeds is the sale price of your client's home less expenses.

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Loan Amount

Your client could borrow between £10,000 and .

Select how much they would like to borrow.

A maximum loan amount is set at outset and your client can drawdown up to this maximum.

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Income amount

The monthly income and term available will be based on any inheritance protection your client has selected. If your client requires more income, you may need to change the term or reduce any inheritance protection.

Income term

Select how long your client would like to receive an income for. The term selected will determine the loan to value.

Initial release

If initial release is more than £2,500 then the full available income would reduce.£

£2,500

Monthly income£

£200

As you’ve chosen a year term your client can receive up to per month for the term.

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Loan amount

Your client may be able to borrow between £10,000 and .

Select how much they would like to borrow as an initial lump sum.

A maximum loan amount is set at outset and your client can drawdown up to this maximum.

Initial lump sum

£

Select how much your client would like to borrow as future drawdowns and when to receive them. There is currently remaining.

For the purpose of these drawdowns, we will use the same interest rate selected for the initial advance. Remember the interest rate may be higher or lower depending on interest rates at the time the drawdown is taken.

Initial Loan Amount

Your client may be able to borrow between £10,000 and £x.

Select how much they would like to borrow as an intial lump sum, monthly interest payment amount, and monthly interest payment term.

A maximum loan amount is set at outset and your client can draw down up to this maximum.

Initial loan amount

£
£0

Monthly interest payment amount

Select how much monthly interest your client would like to pay.

The minimum amount your client could pay is £25. The maximum amount your client could pay is .


Would your client like to pay:

Please select monthly interest payment amount£

£25This is the full interest charged on the loan

These repayments will last as long as the payment term selected on the initial release.

Monthly interest payment term

Select how long your client would like to make payments

How long would your client like to make payments?years

1 year

Drawdown

Select how much your client would like to borrow as future drawdowns and when they'd like to receive them. There's currently remaining.

Your client will need to decide whether they want to make monthly interest payments on the futher drawdowns.

Does your client want further drawdowns?

For the purpose of these drawdowns, we will use the same interest rate selected for the initial advance. Remember the interest rate may be higher or lower depending on interest rates at the time the drawdown is taken.

Interest Rate

Please select an interest rate to use for the initial calculation, you can change this in the results page if you'd like to show your client comparisons of different interest rates.

Please select an interest rate to use for the initial calculation. The interest rate selected will be used to calculate the maximum monthly interest payment amount.

Fixed Interest Rate% AER

Interest rates will depend on your clients individual circumstances. Generate a KFI for a personalised illustration.

Would you like to add the £599 arrangement fee to the loan?

Things to consider

When discussing monthly interest payments with your client it's important to mention the graph shows the effects of the interest payments as set out in the calculator.
Please remind your client that if they stop making monthly interest payments, that any unpaid interest is added to the amount they owe each month. This means the amount they owe will quickly increase over time and reduces the equity left in the home, especially if the loan continues for a longer period than expected.

This graph is based on an interest rate of %. To change the interest rate please go back to that step as it will change your client's monthly interest payment amount.

  • Your loan
  • Interest owed
  • Equity
  • Inheritance Protection ( of net sale proceeds)
Equity based on houseprice growth of:
End of yearClient's ageInterest charged1%0%-1%Owed
(Loan value and interest owed)
Drawdown start of year of
Equity based on houseprice growth of:
End of yearClient's ageBalance at start of yearIncome receivedInterest charged1%0%-1%Amount owed
Equity based on houseprice growth of:
YearClient's ageBalance at start of yearInterest charged1%0%-1%What the client paysWhat the client owes
Drawdown start of year of
Initial lump sum: + Drawdown at start of year : = Balance at the start of :
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Our lifetime mortgage calculator helps to:

  • Show your clients how much they may be able to release from their home.
  • Identify some of the key risks and benefits your client should consider when thinking about taking a lifetime mortgage.
  • Highlight how the interest on their loan increases over time.
  • Demonstrate examples for both taking the maximum available as an initial advance or taking a smaller initial amount where the remainder can be drawn on in the future.
  • Demonstrate examples with a range of different interest rates.

The calculator results are examples only.

A lifetime mortgage is a loan secured on your client’s home. It will reduce the value of your client’s estate and may affect their entitlement to means tested benefits.

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