Why we keep winning equity release awards

As one of the UK's most established and trusted equity release lenders, with over 25 years' experience, we've helped over 284,000 people release more than £11 billion.

As an award-winning equity release lender, we can help you include your loved ones into your financial plans with the no negative equity guarantee.

The no negative equity guarantee means your loved ones and your estate will never pay back more than your property is sold for, so long as your home is sold for the best price reasonably attainable. So, your family won’t be left in debt from your lifetime mortgage.

Of course, after your home is sold when you (and your partner, if you've taken out a joint lifetime mortgage) pass away or go into long-term care, you’ll have less inheritance to leave to your loved ones. That’s why we also offer an optional inheritance protection guarantee.

With this guarantee, you choose what percentage of your home’s value you’d like to leave to your loved ones when you take out the lifetime mortgage.

While this will mean you won't be able to borrow as much through your lifetime mortgage, you can be sure that you'll be leaving something for your loved ones. The minimum you can borrow is £15,000, the amount of inheritance you are able to leave will still be reduced.

We’re one of a small number of providers to offer a personalised interest rate tailored to your situation. This rate stays fixed for the duration of your lifetime mortgage.

You may also be more likely to release money from your property with us thanks to our broad lending criteria. Not only do we offer lifetime mortgages to common property types such as detached, semi-detached and flats, we can offer it for a whole range of other properties too. That includes estates and country houses with land to historic listed buildings, as well as eco homes and lots more.

We regularly review and update the range of properties we offer lifetime mortgages on. This ensures we’re ready to help as many people as we can. To apply for our lifetime mortgage you need to own a UK home (not including the Isle of Man and the Channel Islands), that’s worth £75,000 or more.

You can also make voluntary partial repayments if you want, as soon as your lifetime mortgage starts. For example, you can pay off some of the interest whenever you like, but you can't repay more than 10% each year of the total amount borrowed. The minimum payment you can make each time is £50.

What if your plans change, and you want to move home?

We may be able to move your lifetime mortgage to a new property if you move home – just as long as your new property meets our lending criteria at the time.

But what if your new property doesn't meet our lending criteria? In that case, you'll have to repay your loan and interest before you move, and you may have to pay an early repayment charge too. If you've had your lifetime mortgage in place for at least three years, you may be able to use your downsizing protection - this means you can repay your lifetime mortgage with no early repayment charge. Subject to terms and conditions.

When you speak to your equity release adviser, they'll be able to explain the terms and conditions around moving home in more detail.

In keeping with our award-winning service, we're clear about the risks of equity release and how they could affect you. There'll be charges and fees involved once you start your application.

In terms of how interest works, it's added each year, both to the initial loan amount and any interest previously added, which quickly increases the amount you owe.

Another thing to keep in mind is what happens if things change in your life. Once your lifetime mortgage is in place, if you'd like to end the mortgage early, you may have to pay an early repayment charge.

Equity release may also affect your tax position, whether you're eligible for welfare benefits, which could mean you won't be able to leave behind as much inheritance either.

There are other risks and considerations to think about – your adviser will go through all of this with you.

We're a member of the Equity Release Council, which promotes high standards and best practices for all customers who take out equity release.