Animated guides

Our short videos will help you understand the features and benefits of our Lifetime Mortgages.

What is a lifetime mortgage? video

Find out more about a lifetime mortgage, the choices available, and how our Lifetime Mortgages work.

Transcript: What is a lifetime mortgage?

Lifetime mortgages: what are they and how do they work?

You and your home have been on quite a journey.

But it's not over yet. So how can your home help you now?

Well, with a lifetime mortgage that's secured against your home, you could unlock some of the cash tied up in your property, as either

A larger single amount, or several smaller amounts, that you can apply to take when you need them.

Interest is only owed when you take the money.  You won't make any monthly repayments.

Instead, interest is charged on both the loan and any interest already owed, and added to the total amount that's secured  against your home.

That  means the total you owe can grow quickly, reducing the equity in your home and the value of any inheritance you may leave.

The loan and the interest are only repaid when you die or enter long term care.

The money you release could  be the savings you never knew you had, helping you in your retirement.

It's a big  decision, and there are many factors to consider. That's why you can only get a lifetime  mortgage through a qualified adviser.

They'll ensure that you're  eligible for the product, and can check if it's the  best solution for you.

What could a lifetime mortgage be used for? video

Some examples of how the tax-free cash, from a lifetime mortgage, can be used are shared in this video.

Transcript: What could a lifetime mortgage be used for?

What could a lifetime mortgage  be used for?

Your home's amazing.

It's provided for you and your family, and it's full of memories.

So how can it help you now?

Well, with a lifetime mortgage - a loan secured  against your home - you could release some of the money tied up in your home to use now.

Some people use the money they release for... :

onscreen text: If you pay off your existing mortgage you may have  to pay an early repayment charge to your existing lender.

...paying off their existing mortgage, so that they don't have to make monthly repayments, although it's important to think carefully about  securing a debt against your home.

...making daily life more comfortable by helping meet the monthly bills.

...giving family members some of their inheritance now rather than later - for example, with the deposit for their first home - so that they can see for themselves the difference it makes.

...the fun things - like holidays and  outings.

...home or garden improvements, perhaps making them more manageable as they get older.

How does a lifetime mortgage work? It creates a debt secured against your home. Interest is charged on the total loan amount plus any interest already charged.

This means that the amount you owe grows quickly...

...reducing the equity left in the property and the value of any inheritance. You should consider other options to borrow money which may be more cost effective.

Find out how much you could release - visit our website for more information.

onscreen text: A lifetime mortgage is a debt secured against your home. Interest is charged on the total loan amount plus any interest already charged. That means the amount you owe grows quickly, reducing the equity left in the property. A lifetime mortgage will reduce any inheritance.

Think carefully about securing other debts against your home. You may have more cost effective options.

What to expect from an adviser video

Watch our short video to find out what an adviser does during the lifetime mortgage process.

Transcript: What to expect from an adviser

You’ve had some interesting decisions 

to make about your home

over the years

And by securing a loan against your home with a lifetime mortgage…

...you could release some of the money tied up in your property to use now.

You can only get a lifetime mortgage through a specialist lifetime mortgage adviser. You choose your own adviser, and they’ll explain the type of advice they can give you.

So what would an adviser do? First, they’ll collect your details – perhaps by phone – and check that you qualify...

They’ll help you consider all the types of lifetime mortgage available and if you have more cost effective options to borrow money.

Then, they’ll explain how much you could release, the risks, benefits and the costs too – like the charges for repaying your loan early.

It’s a good idea to include your family in the meeting, so they understand how a lifetime mortgage works and how it will reduce their future inheritance.

If it’s right for you, your adviser will provide you with personalised information to review before you make a decision. If you proceed, they’ll support you throughout the application process.

For more information, please visit our website.

Onscreen text: A lifetime mortgage is a debt secured against your home. Interest is charged on the total loan amount plus any interest already charged. That means the amount you owe grows quickly, reducing the equity left in the property. A lifetime mortgage will reduce any inheritance.

Think carefully about securing other debts against your home. You may have more cost effective options.