SHIP Features
Safe Home Income Plans (SHIP) was launched in 1991 in direct response to the growing need for consumer protection.
SHIP aims to protect your clients though their code of conduct, which member companies must follow. The code of conduct can be found on www.ship-ltd.org.
We're a member of SHIP and we therefore offer additional features and safeguards to our lifetime mortgage products.
No Negative Equity Guarantee
As a member of SHIP, we offer a 'No Negative Equity Guarantee'. Even if the future value of your client's home is less than the amount they owe, their estate will never be left with a debt from our lifetime mortgage products when your client dies or goes into permanent residential care and their house is sold. This 'No Negative Equity Guarantee' is subject to our valuer agreeing that the sale price is reasonable.
Moving Home
As a member of SHIP, we guarantee that your client is safe to stay in their home for as long as they wish, provided all terms and conditions of the mortgage are met. They can also move home and transfer the mortgage, providing we are told in advance and the new property meets our lending criteria at that time.