We use cookies to make sure your experience is as good as it can be. If you’re happy with that, just continue using the site. Learn more about cookies.

skip to main content

Lifetime Mortgage - Lump Sum+

With almost half of all pensioners in the UK living on the breadline, it's possible that your client won’t be able to pay for much-needed home improvements or to send their grandchildren off to university.

Our Lifetime Mortgage - Lump Sum+ provides a cash amount, which can be used to pay for a specific expense such as home improvements, to pay off existing debts or to pay university fees. For many homeowners, equity release could be a solution.

Cover features

  • No interest payments are required throughout the life of the loan - the loan plus interest is repaid when your client dies or moves into long term care
  • Further advances may be available in the future
  • No negative equity guarantee
  • Clear and fixed early repayment charges
  • Excellent service and support

Important information

  • Further advances will depend on our lending criteria at the time
  • Your client can repay some or all of their mortgage at any time, but an early repayment charge may apply in the first 10 years
  • It's important that your client speaks with their family before taking out an Equity Release product, particularly any beneficiaries in their will
  • The interest rate is fixed for the life of the loan. Please remember that the loan plus interest can add up very quickly

This is a lifetime mortgage. To understand the features and risks ask for a personalised illustration.

Introducing our latest changes

Our changes include...

  • Once the lifetime mortgage has been running for 12 months we can accept up to six repayments per year totalling up to 10% of the original loan advance. This is free of any early repayment charge. We’ve also reduced the minimum repayment amount to just £250. This change applies to new Lifetime Mortgage Lump Sum+ customers only.
  • Downsize protection included for full repayment from year 5 onwards*.

*Terms and conditions apply

Refreshed Lifetime Mortgage Lump Sum+ underwriting criteria
  • Subject to a favourable valuation, we're now able to consider properties with Laing Easiform wall construction (post-1945) and Wimpey No-Fines construction.
  • If the property has over 50% flat roof, we may also be able to accept if the property is exceptional and this construction is common to the area.
  • We’ve improved our flexibility with second home criteria. We’ve increased the time a property may be let each year from four weeks to four weeks per individual let (can’t be to the same person) with no limit.*

*Whilst the property should not have any prominent signage, we may now consider variations of reasonable advertisements on websites such as Airbnb or similar. Additionally, the property must still be available for the sole occupancy of the applicant for a minimum of four weeks per year.


LTV Scale

AER (fixed)

Monthly equivalent

Overall cost for comparison

‘Lite’ (5% below ‘Standard’ LTV scale for each age - for example 25% at age 70)



2.90% APR

‘Standard’ (for example 30% age 70)



3.10% APR

‘Max’ (5% above ‘Standard’ LTV scale for each age - for example 35% age 70)



3.40% APR

‘Platinum’ (1% above ‘Max’ for ages 60-75)'



3.60% APR

‘Platinum+’ (2% above ‘Max’ for ages 60-74)



3.80% APR

The rates above will apply for initial borrowing only. The actual rates shown in your personalised KFI will be based on Age and LTV. For example, an LTV of 26% (between ‘Lite’ and ‘Standard’) at age 70, equates to a rate of 2.72% (AER).

The interest rate applied to any further advances will be dependent on both the total LTV and prevailing interest rates at the time of the advance and is likely to be higher than the rate applicable to new customers.

On a joint life basis, the interest rate for the lowest age will apply. The example used to calculate the APR is: a loan amount of £40,000 and total fees of £1,215, 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 23 June 2020

How to buy

To apply for the Lifetime Mortgage - Lump Sum+, please download an application form.

Find out if your client is eligible

To get a quote call the LV= Equity Release Desk on 0800 028 8974

0800 028 8974

TextDirect: first dial 18001

8.30am - 5.30pm Monday - Friday

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


Our awards

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

Our ratings

Moneyfacts 2020 annual assessment of the equity release market:

  • 5 Star Flexible Lifetime Mortgage
  • 4 Star Lifetime Mortgage Lump Sum+
Moneyfacts 2020 Equity Release 5 star logo
Moneyfacts 2020 Equity Release 4 star logo

Defaqto 2020 annual assessment of the equity release market:

  • 5 Star Flexible Lifetime Mortgage
  • 5 Star Lifetime Mortgage Lump Sum+
Defaqto Equity Release 5 star logo
Money icon

Need to borrow more?

Our Flexible Lifetime Mortgage gives your client the option to borrow more in the future.

More on our Flexible Lifetime Mortgage

LV= icon


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

View the support available to you

Awards icon


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

More on the awards we've won

Contact us icon

Contact us

Find your dedicated support for quotes, help and product information

Contact our equity release experts

Connect with us

About retirement

Vimeo logoLinkedIn company logoTwitter icon showing a bluebird

Liverpool Victoria Financial Services Limited, registered in England with registration number 12383237. County Gates, Bournemouth, BH1 2NF, UK