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LV= Equity Release, your partner in later life

Lifetime Mortgage Lump Sum +

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.

We don’t currently lend on properties worth less than £100,000. The maximum property value is £5,000,000.

Age of youngest applicant

Maximum % of property value

Age of youngest application

Maximum % of property value

60

27

78

43

61

28

79

44

62

29

80

45

63

30

81

46

64

31

82

47

65

32

83

48

66

33

84

49

67

34

85

50

68

35

86

51

69

36

87

52

70

37

88

53

71

38

89

54

72

39

90

55

73

40

91

55

74

41

92

55

75

41

93

55

76

41

94

55

77

42

95

55

Single or joint lifetime mortgage

  • If your client lives alone, the loan will need to be repaid on their death, or when they move into long term care.
  • 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 application. The loan will need to be repaid when both of them have died or moved into long term care.

Further advances

  • If your client decides at a later date that they wish to borrow more money, this may be possible although it is not guaranteed.
  • If your client is able to borrow more, a new valuation will be required. The below valuation fees will apply.

Fees

  • Your clients with loans of £50,000 or more can benefit from not having to pay the standard LV= fee of £595. However, if the loan is below £50,000 the fee for taking out a Lifetime Mortgage Lump Sum+ will still apply. We normally deduct the application fee for the loan on completion.
  • As part of our process we always request the valuation fee before we send out someone to value your client’s home. This is a non-refundable fee even if the application doesn’t proceed. Please note that valuations are honoured for six months. If completion takes longer than this, a re-valuation may be required.
  • Please be aware that from 8 July 2020, we are clarifying our charges which may apply during the term of our lifetime mortgages, in our Tariff of Charges. This will apply to all offers issued after 8 July 2020. Please contact us if you have any queries about how this will affect your customer’s application.

Property value

Valuation fee

£100,000 - £150,000

£170

£150,001 - £200,000

£195

£200,001 - £250,000

£202

£250,001 - £500,000

£268

£500,001 - £700,000

£410

£700,001 - £900,000

£675

£900,001 - £1,100,000

£950

£1,100,001 - £1,250,000

£1,100

£1,250,001 - £1,500,000

£1,250

£1,500,001 - £1,750,000

£1,250

£1,750,001 - £2,000,000

£1,250

£2,000,001 - £2,500,000

£1,379

£2,500,001 - £3,000,000

£1,634

£3,000,001 - £3,500,000

£1,889

£3,500,001 - £4,000,000

£2,145

£4,000,001 - £4,500,000

£2,400

£4,500,001 - £5,000,000

£2,655

Product details and rates

An overview of our product details and rates

Online services

Key documents

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.

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Support

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

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Awards

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

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Contact us

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