Lifetime Mortgages

A Lifetime Mortgage is a type of Equity Release plan which enables you to release some of the equity tied up in your property as a tax free lump sum to be spent however you choose and with no monthly repayments. Alternatively you can take the money as a regular income, the choice is yours.

A Lifetime Mortgage is secured against your property and are paid off when your home is sold, usually following the death of you and your partner, or if you move into long term care. When the Lifetime Mortgage including accrued interest is paid off, the remaining equity forms part of your estate.

Advantages of a Lifetime Mortgage

  • Available to home owners aged 55 or above
  • Money released is tax free and can be spent on anything you choose
  • No repayments to be made during your lifetime
  • You retain full ownership of your home so you benefit from any rises in the property market
  • You are guaranteed occupancy for life
  • 'No negative equity' guarantee under SHIP means you will never pass on any debt as part of your estate under this scheme
  • The loan will be a debt against your estate and will therefore reduce your overall inheritance tax liability
  • Can be repaid should your circumstance change, for example if you choose to downsize
  • Portability means you can take the plan with you if you move house

Disadvantages of a Lifetime Mortgage

  • The amount you leave as inheritance will decrease
  • You cannot usually raise as much with a lifetime mortgage as you could with a reversion plan
  • You could be required to pay an Early Repayment charge if you wish to pay off the plan early
  • Eligibility of means tested benefits could be affected

Non-Obligation Advice From
Independent Financial Advisers


Estimated Property Value:
Title:
First name:
Surname:
Email address:
Contact number:
Best time to call:
Current loan or mortgage:
Address:
Street:
City/Town:
County:
Postcode:
Age:
Gender:



I have read and I agree with the Terms of Use
We would like to keep you informed by telephone, post or email of selected products and services available from us and our carefully chosen suppliers.

LinkU2EquityRelease.co.uk is a website operated by Teknosis Digital Media Ltd. This website is a consumer application system, allowing consumers to make instant applications to a multiple of Equity Release providers via a single online form. LinkU2EquityRelease.co.uk is not responsible or liable for any financial service provided by, or obtained through a third party.