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Allows your client to release a sum of money against the value of their home, whilst continuing to live in it

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.

Age of youngest applicant

Maximum % of property value

Age of youngest application

Maximum % of property value

60

25

78

43

61

26

79

44

62

27

80

45

63

28

81

46

64

29

82

47

65

30

83

48

66

31

84

49

67

32

85

50

68

33

86

51

69

34

87

52

70

35

88

53

71

36

89

54

72

37

90

55

73

38

91

55

74

39

92

55

75

40

93

55

76

41

94

55

77

42

95

55

The 'Max' scale is shown in the table above. The 'Standard' scale is 5% below the 'Max' scale for each age (e.g. 30% at age 70) and the 'Lite' scale is 5% below the 'Standard' scale for each age (e.g. 25% at age 70).

Application fees

The fee for taking out a Lifetime Mortgage with us is £595. 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. Please note, valuations are honoured for six months. If completion takes longer than this, a re-valuation may be required.

Property value

Valuation fee

Up to £100,000

£150

£100,001 - £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

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 the full loan to value, so please give us a call on 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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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

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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 experts

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