Lifetime Mortgage | Colourful Retirement | Retirement

What is a lifetime mortgage?

A lifetime mortgage is a type of equity release, a loan secured against your home that allows you to release tax-free cash without needing to move out.

Lifetime mortgages are available to homeowners aged 55 or over. You can take the money as a lump sum or as series of lump sums. No repayments are required until you die or move out of your home into long-term care.

Whether you're looking to pay off an existing mortgage, make some home improvements, or gift money to a family member, a lifetime mortgage could help.

Is a lifetime mortgage right for you?

Use the money however you want

You could release money from your home tax-free and use it to pay off your existing mortgage or increase your income in retirement. There may be cheaper ways to borrow money.

Provide an inheritance

You can protect part of the value of your home so it can still be left as an inheritance

You don't have to move home

A lifetime mortgage means you can stay in your own home, but still access the money tied up in it

Fixed interest rates

Our rates are fixed so they will never change during the life of the loan

Nothing to repay while you live in the home

You don’t have to repay any of the money or the interest until you die or move permanently out of your home into long-term care

No negative equity guarantee

Whatever happens to the value of your property, you will never owe more than the price it is sold for. Subject to terms and conditions

Equity release pros and cons Equity release pros and cons

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 so we can show you the calculation, then give you a call.

How to use this calculator

If you want a joint lifetime mortgage, use the age of the youngest applicant
Once you have your result, you can keep using the calculator to see the different ways you could release the money

My date of birth is
DD / MM / YYYY

My postcode is

postcode

Select address My address is

My home is worth around

£ 0

I'm looking to release

£ 0

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.

We use your address to look up your property ahead of our call, to assist you with your enquiry.

Just one more step...

To find out how much you could receive, and to get a call back to discuss the product details, please complete the form. You can also provide your email address if you’d like to opt in to receiving emails about our products and services.

We’ll never share your details with third parties for their own marketing purposes. Details of how we process your information can be found in our privacy policy. You can opt out of marketing at any time be emailing LGFAoptout@landg.com

First name

Last name

What do you plan to use the money for? (You can select more than one) Repaying an interest-only mortgage Holiday Buying a car Family gifting Providing an emergency fund Enjoying life more Repaying other debts / reducing monthly debt payment Home improvements Other

Phone number

By clicking 'Get result' and submitting this form you consent to us calling you about your results and how our Lifetime Mortgages may work for you.

Email address (optional)

By providing your email address you're giving consent for us to send you emails with news, information and offers on the products and services provided by Legal & General Financial Advice.

Good news!

Based on the information supplied, you could release the amount you specified:

The maximum amount you could release is:

This is an estimate. The amount you can release depends on your property, its value and your individual circumstances. Speak to an adviser to find out how much you could release.

Based on the information supplied, you could release up to:

This is an estimate. The amount you can release depends on your property, its value and your individual circumstances. Speak to an adviser to find out how much you could release.

Congratulations. You've joined one of the 396 people who contact us each week to enquire about our Lifetime Mortgages.

One of our Customer Service Agents will contact you with indicative interest rates based on your information. If you shared your phone number you can also expect to receive a call from us in the next day or two. Or an email will be with you shortly.

If you’d like to speak to us sooner you can call us directly, for a free, no-obligation chat on:

0808 301 70440808 301 7044

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

A lifetime mortgage is a loan secured on your home. Interest is charged on the loan plus any interest already added. This means the amount you owe can increase quickly over time. There may be cheaper ways for you to borrow money.

Step 1 / 2

How would you like to receive your money?

There's more than one way to release your money with one of our Lifetime Mortgages.

A lifetime mortgage will reduce the equity left in your home and the value of any inheritance. A lifetime mortgage is usually repaid when the last borrower dies or moves out of the home and into long term care.

Subject to property value and eligibility.

A lump sum, or series of lump sums

You can receive the money as one lump sum or as a series of smaller amounts over time to suit you

As a regular income

You could get a fixed monthly income for a set period of up to 25 years

In year year

I'd like to take an additional lump sum of

£ 0

Step 1 / 2

Your options for taking a lump sum

Depending on how you need the money, you can receive it as a one off cash lump sum or as a series of smaller cash sums as and when you need it. The option to take lump sums in the future is not guaranteed and will depend on whether you're still eligible to borrow more money.

There's an option to pay the interest off as you go. Ask our Customer Service Agents for more information.

You may be able to borrow between and

Total you've chosen below:

Total remaining:

Step 2 / 3

Your options for a regular income

If you're interested in a regular income, you can select this to be paid for a set number of years.

Once the fixed income term ends the monthly income will stop but interest will continue to roll up until the lifetime mortgage is repaid.

Over how many years would you like your income to be paid?

10 15 20 25

I'd like to take a lump sum of

£ 0

Though you've chosen a regular income, you have to take an initial lump sum of at least £2,500. You can take more than this. It's your choice.

I'd like a monthly income of

£ 0

You've chosen a and an initial lump sum of . That means you could receive a monthly income of up to for .

The information you've provided means that you don't meet the minimum eligibility criteria for the Income Lifetime Mortgage. Please consider another option.

Step 2 / 2

You're interested in a lump sum of

This is an estimate of the amount you may be able to release. The amount you can release depends on your property and your individual circumstances. Taking a lifetime mortgage could affect your eligibility for state benefits.

You're interested in a series of lump sums

You're interested in a regular income

Term:

Initial Lump Sum:

Monthly Income:

Next steps

We'll be in touch shortly if we haven't already called. In the meantime, consider these products.

Flexible Lifetime Mortgage

If you'd like to take a lump sum, or a series of smaller lump sums, without having to make interest payments, take a closer look at this option.

Optional Payment Lifetime Mortgage

If you'd prefer to take a lump sum, or a series of smaller lump sums, and pay off some or all of the interest as you go, take a look at this option.

Why Legal & General

For lifetime mortgages

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

Later life lending specialists

Awarded Later Life Lender of the Year in The Mortgage Awards 2021.

Not sure which option is right for you?

This is a major decision and we’re here to make sure you have all the information you need to get it right.

We'll give you a call back at a time that suits you, or you can find out more with our guide.

Thank you for submitting your details

We'll be in touch soon. In the meantime, why not explore our ‘Rewirement’ section? It’s a great place to find articles, interviews, tips and ideas to help you enjoy a more colourful retirement.

Request a call back about our later life mortgages

If you'd like us to call you about our later life mortgages. please complete your full name and phone number. You can also provide your email address if you’d like to opt in to receiving emails about our products and services. Details on how we process your information can be found in our privacy policy.

First name

Last name

Phone number

By submitting this form you consent to us calling you to discuss how the products and services provided by Legal & General Financial Advice may work for you.

Email address (optional)

By providing your email address you're giving consent for us to send you emails with news, information and offers on the products and services provided by Legal & General Financial Advice. We'll never share your details with third parties for their own marketing purposes.

You can opt out of marketing at any time by emailing LGFAoptout@landg.com.

The personal information collected from you will be shared with fraud prevention agencies to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance, or employment. Further details of how your information will be used by us and these fraud prevention agencies, and your data protection rights, can be found on legalandgeneral.com/cifas

Thank you for submitting your details

We'll be in touch soon. In the meantime, why not explore our ‘Rewirement’ section? It’s a great place to find articles, interviews, tips and ideas to help you enjoy a more colourful retirement.

Have you listened to our Rewirement podcast?

Read real retirement stories

Guide to gifting money to family

Request a guide

If you would like us to post or email you our later life mortgages guide and further information about the products and services provided by Legal & General Financial Advice, please complete your full name, home address and email address. You can also provide your phone number if you’d like to opt in to receiving calls about our later life mortgages. Details on how we process your information can be found in our privacy policy.

First name

Last name

Please select how to you would like to receive the guide: Posted Emailed

Postal Address

By providing your home address you consent for us to send you mail with news, information and offers on the products and services provided by Legal & General Financial Advice. We'll never share your details with third parties for their own marketing purposes.

House no/name

Street name

City/Town

County

Postcode

Email address

By providing your email address you consent for us to send you emails with news, information and offers on the products and services provided by Legal & General Financial Advice. We'll never share your details with third parties for their own marketing purposes.

Phone number (optional)

By submitting this form you consent to us calling you to discuss how the products and services provided by Legal & General Financial Advice may work for you.

You can opt out of marketing at any time by emailing lgfaoptout@landg.com.

Enjoy a more colourful retirement with a lifetime mortgage

Release a tax-free cash sum from your home

What is a lifetime mortgage?

Is a lifetime mortgage right for you?

Use the money however you want

Provide an inheritance

You don't have to move home

Fixed interest rates

Nothing to repay while you live in the home

No negative equity guarantee

Equity release calculator

Just one more step...

Good news!

Congratulations. You've joined one of the 396 people who contact us each week to enquire about our Lifetime Mortgages.

Step 1 / 2

How would you like to receive your money?

A lump sum, or series of lump sums

As a regular income

Step 1 / 2

Your options for taking a lump sum

Step 2 / 3

Your options for a regular income

Over how many years would you like your income to be paid?

Step 2 / 2

You're interested in a lump sum of

You're interested in a series of lump sums

You're interested in a regular income

Next steps

Why Legal & General

For lifetime mortgages

Later life lending specialists

Not sure which option is right for you?

Thank you for submitting your details

We'll be in touch soon. In the meantime, why not explore our ‘Rewirement’ section? It’s a great place to find articles, interviews, tips and ideas to help you enjoy a more colourful retirement.

Request a call back about our later life mortgages

Thank you for submitting your details

Request a guide