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For clients who wish to release some equity from their home now and in the future

Flexible Lifetime Mortgage

How much will we lend?

The minimum initial loan we offer is £10,000. Our table below shows how much we’ll lend based on the age of the youngest applicant and the maximum percentage of the property’s value.

Age of youngest applicant

Maximum % of property value

Age of youngest applicant

Maximum % of property value

Min 60

20

76

36

61

21

77

37

62

22

78

38

63

23

79

39

64

24

80

40

65

25

81

41

66

26

82

42

67

27

83

43

68

28

84

44

69

29

85

45

70

30

86

46

71

31

87

47

72

32

88

48

73

33

89

49

74

34

90 - 95 Max

50

75

35

Maximum loan

The maximum loan that we can agree up front is 3 times the starting loan or the maximum percentage value of the property we will lend, if lower.

Once we have paid your client their starting loan we guarantee the maximum loan will be available for 15 years.

Increasing the maximum loan

Your client may be able to increase the amount of their maximum loan if:

  • Their property's value has increased sufficiently to allow them to borrow a further amount.
  • They have moved to another house which is worth more and meets our lending criteria

The Flexible Lifetime Mortgage allows your client two revaluations of their home at no extra cost. This also includes two free applications to increase their maximum loan. There will be a charge for any further revaluations and an application fee will apply.

Application fees

The fee for taking out a Flexible Lifetime Mortgage with us is £695. We would normally deduct the application fee from the loan on completion.

Valuation fees

We always ask for the valuation fee before we send out someone to value your client’s home. We don’t offer a refund of this fee if an application doesn’t proceed.

Property value

Valuation fee

Up to £100,000

£120

£100,001 - £150,000

£162

£150,001 - £200,000

£192

£200,001 - £250,000

£222

£250,001 - £300,000

£252

£300,001 - £350,000

£276

£350,001 - £400,000

£336

£400,001 - £500,000

£384

£500,001 - £700,000

£510

£700,001 - £900,000

£630

£900,001 - £1,100,000

£810

£1,100,001 - £1,250,000

£870

£1,250,001 - £1,500,000

£1,134

We don’t currently lend on properties worth less than £70,000. And if the property is worth more than £1,500,000 we may not be able to lend at the above minimum percentage of the property value so you would need to call us 0800 028 8974 to discuss.

0800 028 8974

TextDirect: first dial 18001

8.30am - 5.30pm Monday - Friday

We may record and/or monitor calls for training and audit purposes.

Literature

Our awards

The Equity Release Awards – Winner – Best Business Development Manager

Financial Adviser 5 Star Service Awards for the last three years – Mortgage Lenders and Packagers

Our ratings

Moneyfacts 2017 annual assessment of the equity release market:

  • 5 Star Flexible Lifetime Mortgage
  • 4 Star Lump Sum Lifetime Mortgage +

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.

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Lifetime Mortgage

If your client doesn't need the guarantee of borrowing more in the future.

More on our Lifetime Mortgage

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Support

By working with us, you will get the support you can expect from a respected provider.

View the support available to you

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Awards

We've won a range of awards for the service and quality of our Equity Release products.

More on the awards we've won

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Contact us

Find your dedicated support for quotes, help and product information

Contact our equity release specialists

FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK