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Lifetime Mortgage Lump Sum

Designed to let you release a tax-free sum of money in the form of a loan from your property

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Please note that the information given on these pages should not be seen as advice to take out this product. 

benefits of a lifetime mortgage lump sum

It's a big decision to make, so it's important you make the right choices when thinking about releasing money from your property.

Advantages of Lump sum

  • Products are available from the age of 55
  • The cash you release is tax-free and can be spent in a variety of ways
  • You continue to own your home, thereby benefiting from any future increase in its value
  • There is no requirement to make monthly repayments
  • All products come with a ‘no-negative-equity guarantee’, meaning that your estate will never owe more than your property is worth when it is sold
  • Some equity release products will offer an inheritance protection guarantee which can allow you to protect a percentage of your property value so that your family could inherit a part of the property value
  • No more monthly repayments for your mortgage as it is a condition that you pay off your mortgage with the money you release from your home


Things to consider  

  • The size of the lifetime mortgage will grow over time. This is because interest is added to the original loan amount and it continues to roll up as future interest is added on top of this
  • If you want to increase the amount of equity released beyond the original amount agreed, you would normally have to apply for a further advance, which would not be guaranteed
  • The amount that you will leave as an inheritance will be reduced
  • If you wish to pay off the equity release product early, you may have to pay an early repayment charge, these differ from product to product
  • In some cases the lump sum of money that you release could affect your entitlement to any means-tested benefits that you may receive now or in the future
  • Equity release may involve a home reversion plan or lifetime mortgage which is secured against your property and may reduce the value of your estate and impact funding long-term care. To understand the features and risks ask for a personalised illustration 


Try our free Equity Release calculator

Financial Advice on equity release

Need help?

We’ve chosen to partner with Simply Lifetime Mortgages to offer you advice on Equity Release.

Simply Lifetime Mortgages

Mon to Sat - 8am - 9pm

Sun - 9am - 5.30pm

Calls will be recorded and may be monitored for training and audit purposes.