Our lifetime mortgage
The type of equity release we offer is a lifetime mortgage, which is a long-term loan secured on your home and is available to UK homeowners aged 55 or over.
The loan and interest are repaid, usually from the sale of your home, when you die or go into long-term care, subject to our terms and conditions.
Taking a lifetime mortgage will reduce the amount of inheritance you can leave, and may affect your tax position and eligibility for certain welfare benefits.
Do I need advice to take out equity release?
Because equity release is such a major commitment, you must take financial advice before you apply for one. It's important to get an expert view on whether equity release is the best way forward for you. Taking out a lifetime mortgage with us will reshape your finances for your years ahead, and an adviser can spotlight how this commitment could impact you, and whether it may be better to look in other directions.
You can use your own financial adviser if you have one, or find one independently. Alternatively, you could also let us put you in touch with a financial adviser to guide you smoothly through the journey. Just be aware that an adviser you contact through us can only advise you on our lifetime mortgage and can't recommend you one from another provider.
Why choose us for equity release advice?
We’re a member of the Equity Release Council, which promotes high standards and best practices for all customers who take out equity release – and this extends to any equity release adviser you see through us.
- No separate advice fee to pay
If you come to us directly, you won’t pay a separate advice fee, instead we’ll pay the adviser commission once you complete on your lifetime mortgage - Your call is just the start of a conversation
Our advisers take time to delve into the facts, figures and what’s important to you and your family - Alternative options are on the table
Alternatives to equity release will be thought through and talked through as part of the advice process - You’ll only get a recommendation that’s right for you
We actually only suggest a lifetime mortgage for around a quarter of people we speak to - Trusted advisers
Advisers do not receive any commission, so there is no pressure on them to suggest a lifetime mortgage unless it genuinely suits your needs - Tap into 25 years of experience
We’ve been offering lifetime mortgages since 1998, and the advice that goes hand-in-hand with them
Guiding you through the process
When we first chat, we’ll make sure you and your property meet the basic requirements for a lifetime mortgage. Next, we provide a detailed overview of what equity release might entail for you. This includes exploring how much you could access, your personalised interest rate, how interest would grow through the years, and all the other benefits, risks and costs.
If the adviser recommends it, you can then carry this information away and have a think about it. You’ll have another chance to ask any questions and bring forward any concerns before choosing to go ahead.
