A lifetime mortgage enables you to release money tied up in your home by providing a loan secured against your property.
Lifetime mortgages are by far the most popular type of equity release plan available. You need to be 60 and over, and to own your home, which must be worth more than £70,000.
The amount you receive will depend on your age and your property’s value.
Enhanced lifetime mortgages are a type of lifetime mortgage, that take into account medical and lifestyle factors to potenitally allow you to borrow higher amounts, should you qualify.
The below benefits and risks apply to all types of lifetime mortgage.
You will reduce the value of your estate
Charges for valuation fees and solicitors fees may apply, as well as admin fees
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
Useful links Our equity release calculator Our advice service Films about equity release No negative equity guarantee
How much equity could you release from your home?