With pension income often being less than hoped for, and the cost of living still on the rise, it can be difficult to set money aside for special occasions, or savings to fall back on should their circumstances change.
Our Flexible Lifetime Mortgage lets your client borrow a percentage of their property value, in the form of a set lump sum initially, with guaranteed access to further withdrawals, should they need it. Your client could use this to fund their grandchildren through university, to pay for that special family occasion or to cover any sudden changes in circumstances, giving your client the security of knowing they can borrow more if and when needed.
This is a lifetime mortgage. To understand the features and risks ask for a personalised illustration.
The interest rate is fixed for the life of the loan. Interest is compounded annually and added to the loan. Please remember that the loan plus interest can add up very quickly. Each individual withdrawal may have a different interest rate, as it will depend on the interest rates available at the time of the withdrawal.
AER (fixed) | Monthly equivalent | Overall cost for comparison (APR) |
---|---|---|
5.11% | 4.99% | 5.40% |
The example used to calculate the APR is: a loan amount of £40,000, total fees of £1,447, a discharge fee of £125 and a 15 year term.
Interest is compounded annually. We charge interest daily to calculate the amount owed if a repayment is made part way through a year.
Rates correct as at 22 August 2019.
Find out if your client is eligible
To apply for a Flexible Lifetime Mortgage, please download an Application form.
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Our awards
Financial Adviser 5 Star Service Awards for the last three years – Mortgage Lenders and Packagers
Our ratings
Moneyfacts 2019 annual assessment of the equity release market:
Defaqto 2019 annual assessment of the equity release market:
This means that if you're advising consumers on our equity release products, we have a high rating for the quality of our product features.
If your client doesn't need the guarantee of borrowing more in the future.
By working with us, you will get the support you can expect from a respected provider.
We've won a range of awards for the service and quality of our Equity Release products.
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