Find out more

Call us on 0808 273 1018

9.00am to 5.30pm Monday to Friday
Calls are free.

We may record and monitor calls

From new kitchens to taking the band back on tour, if you're aged 55 or over, your home could help you live your life your way, with a Legal & General Lifetime Mortgage.

It's a type of equity release. A loan secured against your home, that lets you release tax-free cash to use now, without having to move or sell your home. You should consider if there are cheaper ways for you to borrow money. That's why you should speak to a specialist adviser to find what's right for you.

Could I qualify?

To qualify for our Lifetime Mortgages, you need to answer yes to all of the following questions:

  • Are you aged over 55?
  • Are you living in (or buying) your own home with a small or no mortgage?
  • Do you want to borrow a minimum of £10,000?
  • Is your property made of standard construction, and in England, mainland Scotland or Wales?
  • Is your home valued £100,000 or over (£150,000 for ex-council, ex-housing association or ex-Ministry of Defence properties)?

What else should I know?

The loan is usually repaid when the last remaining borrower dies or moves out of the home and into long-term care. With our Lifetime Mortgage, any unpaid interest is added each month to the amount you owe and will increase quickly over time. Interest is charged on the loan plus any interest already added. A lifetime mortgage will reduce any inheritance and the equity left in your home. It could also affect any entitlement to state benefits.

Our Lifetime Mortgages in a snapshot

  • Release £10,000 to £100,000 or more, as tax-free cash.
    83% of our new customers received an initial lump sum of between £10,000 and £100,000 in the first half of 2018. Amount released is subject to individual circumstances.

  • An interest rate that's fixed for life.

  • With no need to make monthly payments.

Why choose Legal & General?

Money Facts 5 star Equity Release 2018

5-star products

Moneyfacts awarded all our Lifetime Mortgage products five stars in 2018.

Equity Release Council logo

Responsible lender

As a member of the Equity Release Council, we uphold their standards and regulations.

Shaking Hands

We're here to help you

As at August 2018, we have lent over £2.55 billion in lifetime mortgages to thousands of people.

What are they and how do they work? video

Transcript: What are they and how do they work?

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.

Call us

Like any big decision, it's important to talk to a financial adviser about whether a lifetime mortgage is the right option for you. If you don't have a financial adviser, we can help. We've chosen to work with The Retirement Lending Adviser (TRLA), specialist advisers who've already helped thousands of people like you learn more about their options.

When you call the number shown below, you will be put through to the TRLA. They aren't part of Legal & General. They're a separate company who advise on our Lifetime Mortgages. They'll answer any questions, check if you're eligible and, if you decide to go ahead, arrange a free, no-obligation appointment.

Call free on 0808 273 1018

Monday to Friday 9.00am to 5.30pm. TRLA may record and monitor calls.