Lifetime mortgage

A lifetime mortgage is a loan secured against your home. There are no regular repayments to make and the loan and interest are rolled up and usually repaid when you die or go into long-term care.

 What are the benefits? 

What are the considerations?

Am I suitable for a lifetime mortgage?

You may be eligible for a lifetime mortgage if you can answer 'Yes' to each of these statements:


You should not consider a lifetime mortgage plan if you answer 'Yes' to any of these statements:

How is a lifetime mortgage paid off?

Unlike a standard mortgage, there is no set repayment term and there are no monthly repayments to be made. Instead, the loan will be repaid when your home is sold, usually following your death or your move into long-term care (or in the case of joint borrowers, when the surviving partner dies or moves into long-term care). When repayment is due, the full amount must be repaid. This amount will be made up of the original loan amount plus any accrued interest. It may also contain any charges that have been added to the loan. Any remaining equity in your home, after the loan has been repaid, will belong to you or your estate. Of course, if you have protected a proportion