What is a lifetime mortgage?

A lifetime mortgage is a way of releasing cash from your home while you still live in it. It's a loan secured on your home which allows you to take a lump sum all at once, a series of lump sums when it suits you, or a regular income. You don't have to repay anything until you die or move out of your home into long-term care. To be eligible for a lifetime mortgage, you must be aged 55 or over.

Is a lifetime mortgage right for you?

Use the money however you want

Home improvements, pay off an existing mortgage or just topping up your monthly income – it’s up to you. 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 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.

I am years old
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.

Why Legal & General?

  • Since 2015, we've lent £4.4 billion

  • We've lent to over 89,000 customers

  • On average, we process 400 applications each week

Photo of woman on phone call

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.