Lifetime mortgages
If you are in your mid-50s or older, own your own home and want additional funds, then releasing the equity in your property through a lifetime mortgage may be a way of achieving this. There are various types of lifetime mortgage available and will generally involve taking out of a mortgage secured against the value of the home in order to provide a cash lump sum, regular income or both.
These schemes can be helpful in certain circumstances but are not suitable for everyone. There are advantages and disadvantages involved and it would be prudent to seek professional advice before committing yourself. It is important that you consider all the options available in order to be sure you take the most suitable action for your own needs and circumstances.
This is a Lifetime mortgage. To understand the features and risks, ask for a personalised illustration
For mortgages, you have a choice how we are paid.
No fee. We will be paid commission by the lender
A minimum fee of £200.00 payable at application stage or on completion of the mortgage; normally on completion. Typically the fee will be £200.00 but will depend on your circumstances. We will also be paid commission from the lender.
A fee of £150.00 per hour, payable at application stage or on completion of the mortgage; normally on completion. Typically the advice process will take 6 hours, which would be a fee of £900.00. The fee is subject to a minimum of £600.00. We will refund any commission from the lender.
You will receive a Key Facts illustration when considering a particular mortgage, which we will tell you about and any fees relating to it.