Lump Sum Lifetime Mortgages

• This money could be used to carry out some necessary home improvements, to repay debts, to go on a dream holiday, to help your family or to improve your standard of living. The choice is yours.
• Interest on the mortgage is calculated from the date your mortgage starts, using the fixed interest rate detailed in your mortgage offer. The interest is added to the amount you owe daily, based on the outstanding balance at the start of each year, which means the loan plus interest can grow very quickly.
• You don’t actually pay any of this interest until the loan is repaid, which normally happens when you die or go into long term care.
• The minimum lump sum we will lend, which is secured against your property, is £10,000 for our Lump Sum+ product or £30,000 for our Lump Sum Lifestyle product.
• The amount that you will leave as an inheritance will be reduced. 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. 

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

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