Lifetime Mortgages

One of our Lifetime Mortgages could help you pay off your Santander mortgage balance in full, including any early repayment charges that may apply. Whether you’d like to continue paying the interest each month or not, we could have a solution for you.


What is a Legal & General Lifetime Mortgage?

A lifetime mortgage is a way of releasing a lump sum or regular income from your home, tax-free, without having to move or downsize. It’s a type of equity release - a loan secured against your home - and is designed exclusively for homeowners aged 55 or over. 

The interest rate is fixed for the duration of the lifetime mortgage. And depending on which product you take out, you can choose to pay all, some or none of the interest. Any unpaid interest is added to the amount you owe each month, which means the amount you owe will increase quickly over time.

Our Lifetime Mortgages are usually repaid from the sale of your home when the last surviving borrower dies, or moves out of their home and goes into long-term care. 

To ensure you understand all the features and benefits, you can only get a lifetime mortgage through a specialist adviser.

We offer three Lifetime Mortgages:

Flexible Lifetime Mortgage Optional Payment Lifetime Mortgage Income Lifetime Mortgage
Our Flexible Lifetime Mortgage gives a tax-free cash sum and you don't need to make any monthly interest payments. This option gives you a tax-free cash sum, with the option to pay monthly interest by direct debit and reduce the overall cost of your loan. This could be right for you if you're looking to release some of the money tied up in your home to supplement your monthly income over a fixed term.
  • Get a tax-free cash sum from your home
  • No need to make monthly interest payments
  • Option to apply for more money in the future
  • Get a tax-free cash sum from your home
  • Choose to make monthly interest payments, to manage the amount you owe
  • Stop making interest payments at any time
  • Option to apply for more money in the future
  • Get a monthly income for a fixed term paid into your bank account
  • Get an initial cash sum of £2,500 minimum
  • Benefit from the certainty of fixed income


What are they and how do they work?

Lifetime mortgage calculator

Our Lifetime Mortgage calculator makes it easy to see how much money you could borrow with a Legal & General Lifetime Mortgage. A lifetime mortgage is a type of equity release, a loan secured against your home.

I am years old  and I think my property is worth

Advice and support

Taking out a lifetime mortgage is an important decision. In order to protect you, the Financial Conduct Authority requires that you receive financial advice.

The advice we offer ensures you make a fully informed decision, and only take out a product that’s right for you.

Please contact Santander who will refer you to a Legal & General adviser. Legal & General advisers can only advise on a Legal & General Lifetime Mortgage.

If you prefer to talk to your own financial adviser and you don't have one, you can find a list of advisers in your area on the Equity Release Council or Unbiased websites.

Frequently asked questions

Get answers to some of our most common questions.