Skip to main content
Search
You are here:
  1. Retirement
  2. Care lifetime mortgage
Carer arriving at home

Fund in-home care with a lifetime mortgage

If you're a homeowner, aged 55 or over and are looking for support for care costs then you could get help with a lifetime mortgage, a loan secured against your home.

Call 0808 301 70440808 301 7044 to fund in-home care with a lifetime mortgage

  • Release tax-free money from your home while you still live there
  • Finance in-home care or top-up existing funding for a higher standard of care
  • Pay for carers or adapt your home, for example by adding a stair lift, ramp or wheel-chair lift
  • Receive lump sums or a regular income
  • With a lifetime mortgage you won’t have to make any monthly payments. Instead the interest is added to the amount you owe each month. This means we charge interest on the loan plus any interest already added.
  • The lifetime mortgage is usually repaid from the sale of your home when you, or the remaining applicant (if the mortgage is in joint names) dies or moves out of your home into long term care.
  • No early repayment charge if you later move to residential care 

How much could you release

Options for paying for care with a lifetime mortgage

Arranging care for a loved one, whether they are moving into a care home or require in-home care, can be challenging and expensive.

There are several options available to support funding care, such as Local Authority Funding, NHS Funding or State Benefits, for example, Attendance Allowance.

Alternatively, you could use a lifetime mortgage to release some of the value of your home as cash, without having to sell the home or move out. A lifetime mortgage – also known as equity release – provides tax-free cash, either as a lump sum or regular income, for you to use now. Releasing equity with a lifetime mortgage is likely to reduce how much you can leave as an inheritance.

You should understand your entitlement to means-tested benefits and Local Authority Funding before considering a lifetime mortgage as it might affect your eligibility.'

Our care costs calculator will help you to understand how much may be needed to cover the cost of care, as well as the support available for home improvements and adaptations.

Try our care costs calculator

LTM products - might suit you if

Flexible Lifetime Mortgage

Release your funds as a lump sum, or a series of lump sums as and when you need it.

Might suit you if

 

  • Your care costs are likely to change over time

  • You need flexibility when paying for your care
Flexible Lifetime Mortgage

Income Lifetime Mortgage

Get a fixed monthly payment for 10, 15 or 25 years. The interest rate is fixed at the start of the mortgage.

Might suit you if

 

  • Your long-term costs are more certain

  • You need a fixed monthly amount to top-up your care funding

Income Lifetime Mortgage

Equity release calculator

This calculator helps you see how much equity you could release with a lifetime mortgage, a loan secured against your home. We'll ask you to register your details to show you the calculation, then give you a call.

My date of birth is
/ /
My postcode is
My home is worth around

I'm looking to release


This is a guide to the lifetime mortgage products we offer and not advice or a personal recommendation. You can only buy a lifetime mortgage through a financial adviser.

Get in touch to see if we can help you pay for care

To have a chat about your options for releasing equity from your house, call us on the number below.

For any other enquiries please get in touch via our contact us page

0808 301 70440808 301 7044

Monday to Sunday 8:30am - 8:00pm
We may record and monitor calls