Our lifetime mortgage calculator
Our calculator will help you see how much value you can release from your home with one of our Lifetime Mortgages. Like any mortgage, it’s a loan you take out against your home. We’ll:
- ask you for a few simple details
- calculate how much you can get
- follow up with a call to answer any questions.
You can only buy a lifetime mortgage through a financial adviser. Our calculator is a guide - we can’t give you advice or make personal recommendations about which one’s best for you. Your financial adviser will be able to help with that.
Lifetime mortgage calculator
This calculator helps you see how much 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.
“My son has always wanted to get on the property ladder but has never been in a position to save up enough for a deposit. I spoke to a couple of financial advisers and the name that kept coming up all the time was Legal & General. The lifetime mortgage has ensured that my son, now feels secure. That is worth more than any money. I’m very happy I was able to do that for him.”
- Evadne, Nottingham
Compare our lifetime mortgages
| Flexible Lifetime Mortgage | Optional Payment Lifetime Mortgage | |
| Age | 55+ (for joint applications, all applicants must be 55 or over). | 55+ (for joint applications, all applicants must be 55 or over). |
| Minimum property value considered | £70,000 or £100,000 for flats, maisonettes, ex-council, ex-housing association or ex-Ministry of Defence properties. | £70,000 or £100,000 for flats, maisonettes, ex-council, ex-housing association or ex-Ministry of Defence properties. |
| How is the loan paid? | Lump sum or series of lump sums. | Lump sum or series of lump sums. |
| Minimum initial lump sum | £10,000 | £10,000 |
| Minimum additional loan amounts for each release | £2,000 | £2,000 |
| Maximum loan amount | Determined by your age and property value. | |
| When do I have to repay the full amount of the loan? | The lifetime mortgage is usually repaid from the sale of your home when you, or the remaining applicant (if the mortgage is in joint names) dies or moves out of your home into long term care. | |
| How is interest charged on the loan? | Interest is charged on the loan amount plus any interest already added, so the amount owed will increase quickly over time unless you pay off some or all of the interest. You may have cheaper ways to borrow money. | |
| Do I have to pay interest every month? | No - but you can choose to make partial repayments if you want to manage the amount owed on the loan and interest. | No - but you can pay some or all of the monthly interest to reduce the overall cost of the loan, and you can stop making payments at any time. If you choose to stop payments, you can't restart them. |
| Can I end up owing more than the home is worth? | No. With our No Negative Equity Guarantee, as long as you follow the terms and conditions of the loan, you'll never owe more than the home is worth. | |
| Is the interest rate fixed? | Yes. The interest rate is fixed for the duration of the loan. We’ll set a new interest rate for each additional amount you take out, so your initial lump sum and any later withdrawals will have their own fixed rate. | |
| More information on our lifetime mortgage options | Flexible Lifetime Mortgage | Optional Payment Lifetime Mortgage |
Call us about lifetime mortgages
To speak to us about your lifetime mortgage options, call the number below.
For any other enquiries please get in touch via our contact us page.
Monday to Friday 9:00am - 6:00pm
Saturday 9:00am - 1:00pm
We may record and monitor calls.
Need help?
Making decisions about how to finance your retirement is important so it’s worth making use of the guidance and advice services available.
Retirement guidance
Equity Release Council
Legal & General Home Finance Ltd is a member of the Equity Release Council, a trade body setting standards for providers. Take a look at their consumer brochure for more details.
Contact us about lifetime mortgages
To discuss our Lifetime Mortgages, a loan secured against your home, and if they're right for you.
Call us on:
0808 115 8129
Monday to Friday 9am - 6pm,
Saturday 9am - 1pm.
We may record and monitor calls.
Get independent advice
You can't take out an equity release product unless you have taken financial advice. Find out how to access independent legal and financial advice.