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

Flexible Lifetime Mortgage

Remaining in your home

Your client can continue to remain in their home for as long as they wish. It’s their legal right, as long as they meet the terms and conditions of the mortgage.

Before they take out a lifetime mortgage, they need to understand how the terms and conditions will affect them. They’ll need to make sure that:

  • they keep adequate buildings insurance
  • they keep up the maintenance of the home so it remains in the condition it was when the lifetime mortgage was taken out
  • they obtain permission from us before they allow any other person to live in any part of their home

Other people living in the property

  • If your client is living with their partner, civil partner, or spouse, they'll both need to be named on the property deeds and in their Lifetime Mortgage - lump sum application.
  • If there are friends or family living in the property or children aged 17 or over who are not dependent on your client, they'll need to sign an occupancy waiver releasing their rights to the property.
  • If there is a child who is under the age of 17 or a dependent adult living in the property, we'll need confirmation from your client's solicitor that there are adequate arrangements in place to care for them if they still live in the property and your client moves into permanent residential long term care or dies.
  • If your client has any tenants living with them, you'll need to contact us first before an application is submitted.

Moving home

Once your client’s lifetime mortgage is up and running, they can still move house, as long as the new home meets our lending requirements at that time. If your client is moving to a less expensive property, we may ask your client to pay back part of the outstanding mortgage. If this happens, they won’t be charged any early repayment charge on the amount we ask your client to pay back.

However, if your client chooses to pay back more than the amount we ask them to, or they decide to repay the lifetime mortgage in full, then they may need to pay an early repayment charge,

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