My home helped pay for it.
From that shiny new kitchen to a well-deserved holiday or the excitement of being able to help a family member buy their first ever home, if you’re aged 55 or over, our Flexible Lifetime Mortgage could help. A loan secured against your home, it’s a type of equity release that helps you release tax-free cash to use now.
- Take a minimum loan amount of £10,000
- No need to make monthly interest payments
- Option to apply for more money in the future
The loan is repaid in full, along with the interest, from the sale of the property when the last borrower dies or moves into long-term care. We also offer Inheritance Protection so you can secure a proportion of the net sale proceeds of your home for your beneficiaries. This will reduce the amount you can borrow.
- Interest is charged on the loan plus any interest already added. This means the amount you owe will increase quickly over time.
- A lifetime mortgage will reduce an inheritance and may affect your entitlement to means-tested benefits.
- You can stay in your own home and you will never owe more than it's sold for (subject to terms and conditions).
- If you give the money away, the recipient may have to pay inheritance tax in the future.
- You may have cheaper ways to borrow money.
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.