EQUITY RELEASE LIFETIME MORTGAGE

Summary Box
Name Equity Release Lifetime Mortgage
Interest rate The Society's standard variable rate, currently 4.99%.
The overall cost for comparison is 5.2% APR
Incentives Funds can be taken as a one-off lump sum, on a monthly basis to provide a regular, ongoing income or if you prefer you can opt for lump sums payable in stages.
Arrangement Fee None
Maximum loan to value (LTV)
Age of applicant Maximum LTV
65 - 69 20%
70 - 74 25%
75 - 79 30%
80+ 40%
Interest calculated Annually
Early repayment charges None
Other conditions

A valuation fee is payable.

The minimum value of your property must be £80,000. The minimum advance is £20,000 subject to the limits set out above, and the maximum capital advance is £250,000.


The Equity Release Lifetime Mortgage is a flexible, cost-effective and secure way of letting you borrow a proportion of the funds tied up in the value of your house.

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

How To Apply

 

Our application has been handled efficiently and without fuss
Mrs H, Halifax