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Making repayments on your lifetime mortgage

If you have one of our Payment Term or Interest Reward Lifetime Mortgages, you may already have a Direct Debit in place. This is usually set up when your loan starts and covers your regular monthly payments.

To inform us of new bank details, please submit new details using the link below.

Things to consider

  • A lifetime mortgage, including a Payment Term Lifetime Mortgage, is a loan secured against your home. It is subject to compound interest, meaning the amount you owe can grow quickly.
  • If you have a Flexi Payment Term Lifetime Mortgage, you must make payments for a set period. If you miss these payments, your home could be at risk of repossession.
  • For our Interest Reward products, if you miss payments, you may lose any interest rate discount linked to your plan. Please check your Lifetime Mortgage Offer for full details.
  • Equity release may leave you with limited or no equity in your property. This will reduce your financial options in the future.
  • Equity release will reduce the value of your estate. It may also affect your entitlement to means-tested benefits.
  • Lifetime mortgages are long term products. They are not designed to be repaid early. If you do repay early, early repayment charges may apply.
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