Our lifetime mortgage helped customers release equity from their homes with a lump sum amount and an option to have a future release facility to support their long term needs.
- Interest rate fixed for the life of the mortgage
- No monthly interest payments during the customer's lifetime
- Future release (Drawdown) facility available
- Bereavement exemption with no time limit (no ERC’s should the remaining borrower decide to redeem)
- No Negative Equity Guarantee (NNEG)
- A percentage of the property equity can be protected for inheritance or care
- A Portable product
- Further Advances available after initial 12 month qualifying period and subject to our lending criteria
- Although regular monthly payments are not a feature of this Lifetime mortgage, borrowers can make one voluntary payment of up to 10% of the capital balance, not including interest, each year without incurring an ERC
Please contact your BDM for more information.