All equity release plans are designed to be a lifelong commitment. Our Roll-up Lifetime Mortgage and Fixed Lifetime Mortgage are long term arrangements that will last your lifetime or until you move into long term care, or, in the case of joint policies, the last surviving partner dies or moves into long term care.
If your circumstances change, and you decide you want to repay the loan early, an early repayment charge may be made. This charge is dependent on the plan you have with us, and market conditions at the time. Figures are calculated for each cash drawdown you have made to give a total charge.
You may wish to discuss this and other options with your financial adviser.
Full details of the way in which the charges we make are calculated is contained in your original loan agreement which was signed by you when you first took out your lifetime mortgage.
If you cannot locate these documents for any reason, or wish to check what your early repayment charge will be please contact us on 01737 233297 (8.30am to 5.30pm Monday to Friday). Please note your call may be monitored and recorded.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
Useful links Safe Home Income Plans (SHIP) - a trade body promoting standards within the industry