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Later life mortgage advice

Interested in a later life mortgage but not sure where to start? Speak to one of our specialists for expert advice.

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Our later life mortgage advice service

Here are four good reasons why you should choose Legal & General for later life mortgage advice.

Unlike others, we don’t charge an advice fee and we make sure you understand every single cost involved with taking out your later life mortgage. 

Your home may be your greatest asset. Shouldn’t you rely on someone you can trust?

Further details can be found on How much does a later life mortgage cost?

We began offering lifetime mortgages in 2015. Since then, we’ve lent over £6.52bn and helped over 115,000 customers. On average, in 2023 we processed more than 250 applications each week. To help even more customers we've introduced our Payment Term Lifetime Mortgage.

With Legal & General you’re in experienced hands and, with our advice service, you can be confident you're making fully informed decisions when considering a later life mortgage.

A later life mortgage is a loan secured against your home.

We will never hurry you - you set the pace. You will have your own Adviser and Customer Service Agent who will guide you every step of the way. They are rewarded for great customer service - not for sales.

It's important to us that we only recommend products we know, and are accountable for. If we don’t have a suitable product for you, then we’ll introduce you to another advice firm, who have access to products from the whole of the market.

Explore later life mortgages

Whether you're looking to pay off an existing mortgage, or to release some equity from your home to spend on yourself, your home or your family, one of our later life mortgages could help

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Get later life mortgage advice from our specialists today

Start getting answers to your questions about later life mortgages in less than 60 seconds, or request a call back from our team.

0808 296 1040

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More about later life mortgages

Find out more about equity release and your other later life mortgage options.

Lifetime Mortgage

A type of equity release.

A lifetime mortgage is a loan secured against your home, available to homeowners aged 55 (or 50 for our Payment Term Lifetime Mortgage) or over.

Interest is charged on the loan plus any interest already added. This means that if you're not servicing any of the interest, the amount you owe will increase quickly over time. The loan is usually repaid when you die or move out of the home into long-term care.

If you're looking for a way to supplement your income in retirement, this could be an option for you. However, there may be cheaper ways to borrow money.

Retirement Interest Only Mortgage

A type of residential mortgage.

A Retirement Interest Only Mortgage is a loan secured against your home. You have to pay the interest off monthly, but the full amount of the loan isn't usually repaid until you die or move out of the home into long-term care. As a last resort, your home may be repossessed if you do not keep up repayments.

If you're looking to release some money from your home to pay off an existing mortgage, this is one of the options available to you.