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What is an Optional Payment Lifetime Mortgage?
Tax-free cash, with optional payments
Our Optional Payment Lifetime Mortgage, a type of equity release, is a loan secured on your home which allows you to borrow against the value of your home while continuing to live there. You get a tax-free cash sum, and could reduce cost by making monthly interest payments. You can stop interest payments at any time, but you won’t be able to restart them.
This could be one solution if you‘re approaching the end of an interest-only mortgage and need to repay it. You may need to pay an early repayment charge to your lender.
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.
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Making decisions about how to finance your retirement is important so it’s worth making use of the guidance and advice services available.