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Equity Release

Unlock the cash from your home and enjoy a richer retirement

  • Release tax-free cash from your home
  • Access a cash lump sum, a drawdown reserve of cash or both
  • Live in your home throughout your retirement
Man pushing a women in a wheelbarrow

Flexible Lifetime Mortgage

    Our Flexible Lifetime Mortgage has been specifically designed for people who wish to release some equity from their home now and expect to want to borrow more in the future.

    You can choose to borrow an initial amount, and at the same time set up a maximum loan to draw from in the future. This way you'll only be paying interest on the amount you actually want to spend. The minimum we will lend to start with is £10,000.

    The most we'll agree as a maximum loan is three times your initial loan or the highest amount we will lend as a percentage of the value of your property if this is less.

    Once agreed, this maximum loan is guaranteed to be available for you to draw from for 15 years irrespective of what happens to property prices or interest rates.

Things to consider

  • The interest rate for each withdrawal will be the rate we’re offering at the time you make the withdrawal so each one may have a different interest rate. The rate is also dependent on your age at the time of making the withdrawal. There are no additional charges for taking withdrawals; all the costs have been covered up front.
  • You can then take withdrawals of £2,000 or more when you need them up to the amount of your maximum loan. The only thing we ask is that you don't draw on your maximum loan more than once in any calendar month.
  • Remember, making withdrawals will increase the amount of borrowing secured on your home.

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

Borrowing more

You may be able to increase your maximum loan amount if your property’s value has increased sufficiently to allow you to borrow a further amount, or you have moved to another house that is worth more and meets our lending criteria.

You may not always be able to release additional money from your home in the future. The availability of additional borrowing and the terms and conditions that will apply will depend on our practice that applies at the time.

Things to consider when borrowing more

  • Your Flexible Lifetime Mortgage allows you two revaluations of your home at no additional cost to you. This also includes two free applications to increase your maximum loan.
  • There will be a charge for any further revaluations and an application fee will apply. This can be used if you want to increase your maximum loan amount and ultimately make further withdrawals.
  • You must seek independent legal and equity release advice before applying to increase your maximum loan amount.

Call the Equity Release Council on 0844 669 7085 for more information on equity release and how to find a lifetime mortgage specialist adviser near you

Existing customers

If you already have a Lifetime mortgage with us please call:

Call us

0800 028 8974
8.30am - 6pm Monday to Friday

TextDirect: 18001 0800 028 8974

We may record and / or monitor calls for training and audit purposes.

New customers

To start an equity release enquiry, contact your independent financial adviser, or find one specialising in equity release through the Equity Release Council (ERC).

Equity Release Council logo
  • Ensure that products are safe and accessible
  • Set standards and safeguards to protect and reassure you
  • Protects you and works to increase your knowledge so you can make informed decisions
  • Visit the Equity Release Council website

Equity Release Council

We're members of The Equity Release Council, and guarantee no-negative equity on your property so you will never owe more than the property value.

Why choose LV=

  • 5 Star Award for our Equity Release Services from Moneyfacts in 2016 for our Flexible Lifetime Mortgage.

Product Information

  • Unlocking your capital
  • Enjoy a brighter tomorrow

Love Retirement

Take a look through our articles full of helpful ideas and inspiration to help you enjoy a happy retirement.