Equity release moving home

Request to move property form

Tell us you're moving home

Before completing our 'moving home form' please read the following information carefully. You must apply to transfer your lifetime mortgage as soon as you have found a new home and before you intend to move.

1. Contact us as soon as you've found a home you like

The ability to transfer your lifetime mortgage is not guaranteed and will depend on your new home being accepted by us. It is important to contact us as soon as possible, so there is time to have a valuation undertaken on the new property and for us to assess it. Your new home must be in England, Wales or Scotland and will be owned by you.

If we accept your new home, we will transfer our charge on completion of the sale, from your old property to the new one.

    2. Arrange a valuation for your new home

    Our surveyors will contact you to arrange a valuation on the home you found, as it must meet our current lending criteria.

    Our lending criteria may be different from those applied at the time of your original lifetime mortgage offer. If, following the valuation, your new home does not meet our current lending criteria and you still decide to move, you must repay your lifetime mortgage as part of the sale of your property. You may have to pay an early repayment charge. 

      3. We assess the new property for suitability

      Based on the valuation, we will check whether the new property meets our current lending criteria. Not all properties are acceptable and approval cannot be guaranteed. During your original loan application, we would have discussed your home and our lending criteria with your financial adviser. 

      If you would like to discuss our lending criteria and what types of properties are not acceptable, please contact us on 0800 028 8974.

      It is not necessary to instruct your financial adviser to transfer your lifetime mortgage. However, if you are concerned your new home may not be approved, your financial adviser can help explain the process. Alternatively, your solicitor should be able to assist in explaining our lending criteria.

        4. Understand the costs involved

        You will be responsible for paying your own legal fees and all other moving costs. Valuations will be charged at the rates applicable at the time and will depend on the value of your new home.

        Depending on the value of your new property and the outstanding balance of your lifetime mortgage, you may have to pay back some of the loan as part of the transfer.

        When you contact us to apply to transfer your lifetime mortgage, we can explain all the costs involved.

          Your financial adviser doesn’t need to be involved in the transfer of your lifetime mortgage. However, if you’re unsure about anything, your adviser can guide you through the process.

          Your details

          Your details

          Please confirm your understanding to the following statements. If you are unsure about any of these, please call us on 0800 028 8974 and select option 3
          New property

          New property

          The following questions are all in relation to the new property you have found which you would like to apply to transfer your lifetime mortgage to.
          The property should be in mainland England / Wales / Scotland or on the Isle of Wight.
          This is an independent company employed to collect service fees and maintain the block.
          This may relate to conditions on resale or use limitations.
          Provide information on the type of non-standard utilities. This may include: Septic tanks, Solar panels, LPG gas, Heat pumps, Private water supply, Communal systems
          Properties built in the last ten years require a new build warranty.

          There will be an application fee and valuation fee to pay. You will be responsible for paying your own legal fees and all other moving costs. Valuations will be charged at the rates applicable at the time and will depend on the value of your new property.

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