Using equity release to expand your property portfolio

Ready for a second home, a holiday home or just a rental property investment? A later life mortgage could help.

How much could you release?

A loan secured against your home, for ages 55+

Help fund the cost of a second home

Borrow based on the value of your primary property and use the money to help fund the purchase of a second home.

Possibility to move in the future

You may be able to move your later life mortgage to your new home, if it meets our lending criteria.

No fixed term

The loan is repaid from the sale of your home when the last borrower dies or moves into long-term care.

Considerations

There’s no need to make monthly payments, unless you choose a Payment Term Lifetime Mortgage, where you have to pay the interest off monthly for an agreed payment term.
A later life mortgage may reduce an inheritance and may affect your entitlement to means-tested state benefits.
You can stay in your own home and you will never owe more than it's sold for (subject to terms and conditions).
You may have cheaper ways to borrow money.
You may have to pay an Early Repayment Charge to your existing lender if you remortgage.

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. You may also receive a call from us to assist you with your enquiry.

Before you start

The amount you can borrow is based on your age and the value of your home, but this might be less when you come to apply. If you are the sole borrower you may be able to release more.
If you're applying for a joint lifetime mortgage, enter the age of the youngest applicant.
You need to be between the ages of 50 and 90.

Looking for an interest only option?

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.

"Everyone I’ve spoken to at Legal & General, all the way through, has been nothing other than a pleasure."

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

Make your first step today and call us for a no obligation chat. We're happy to answer any questions you have.

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Wealth management with a lifetime mortgage

Cutting down your estate by gifting money to your loved ones can cut down inheritance tax too.

Robert looking at phone and having a cuppa in his kitchen

Paying off your interest-only mortgage

With a later life mortgage, you can borrow money based on the value of your home to pay off your existing mortgage.

Learn more

Is equity release a good idea for you?

Although the market now offers greater flexibility, more choice and increasingly competitive rates, myths around equity release remain.

Here we set the record straight and explain how equity release can help boost your finances.

The Bank of Mum and Dad (BoMaD)

The Bank of Mum and Dad is a way in which children are financially supported by their parents, or helped to get on the property ladder.

Downsize or equity release?

Here are some of the things to think about if you’re considering downsizing, or taking out a lifetime mortgage, a form of equity release.