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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

What is a lifetime mortgage?

This involves taking out a mortgage, but with most providers there are usually no mortgage repayments to make. Instead, the interest on the amount borrowed is usually added to the outstanding loan.

Usually, there are two options;

  • the cash lump sum advanced at outset, or
  • a series of smaller lump sums depending on your needs.

Who can take out a lifetime mortgage?

You can apply for one of our lifetime mortgages if you meet all of the following conditions:

  • You are aged between 60 and 95. If you are applying as a couple the younger of you must be between 60 and 95.
  • Your property is worth £70,000 or more.
  • Your property is either a freehold or long leasehold house or bungalow, or a flat with a long lease (any leasehold property must have a minimum of 80 years remaining).
  • Your property is in good condition, well maintained and built of conventional ‘bricks and mortar’. We do sometimes consider other types of property.
  • Your adviser will be able to discuss your property with us if necessary.
  • You repay any outstanding mortgage or other loan secured on your property, as part of the process of taking out your lifetime mortgage.
  • Your property is in England, the Isle of Wight, Scotland or Wales.

Reasons for taking out equity release

People are generally healthier and more active in retirement than ever before which means they can do a lot with all their spare time.

  • Home improvements - add that conservatory or extension you've always wanted.
  • Repaying debts – from clearing a mortgage to paying credit card bills.
  • Exciting holidays - go on that holiday or cruise you've always dreamed of.
  • Invest in your family’s future - getting started in life is becoming more and more of a financial headache. You may want to help support your children or grandchildren through further education, a career change or help them get onto the property ladder.
  • Improve your lifestyle - your retirement is the perfect time to live the lifestyle and comfort you deserve.
  • Increase retirement income - tax free cash can be released as a lump sum, a drawdown or a combination of both.
  • New car - you may have always dreamt of having a nice new car but always put it off.

Things to consider:

  • Releasing cash from your home will reduce the value of your estate and may affect your entitlement to state benefits.
  • Think carefully before securing other debts against your property.
  • If you’re not required to make repayments, the loan plus interest can grow very quickly.

As members of the Equity Release Council we’re bound by their Statement of Principles, a group of safeguards and guarantees that give you confidence in the products we offer and the information you receive.

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.