Our Lifetime Mortgages

Rated 'Excellent'

We understand the need for individuals to have lifetime mortgages that have flexible features which are as adaptable as the journey you're embarking on. That’s why we’ve designed a range of lifetime mortgages, which is a loan secured against your home, that offer you both confidence and peace of mind, helping you achieve your financial goals in retirement.

A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means-tested benefits.

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Make more of later life with a lifetime mortgage. Our plans come with competitive interest rates and helpful features as standard, giving you added peace of mind now and in the years ahead.

Here’s what that can include:

Voluntary repayments: you may be able to pay back some of what you owe without an early repayment charge (subject to criteria). With a lifetime mortgage, there are typically no monthly repayments, as the loan plus roll-up interest, is repaid when the plan ends. This is usually when you, or the last remaining applicant, either passes away or moves into long-term care.

Our lifetime mortgages are designed for people aged 55 and over.

Protections to give you peace of mind

All of more2life's lifetime mortgages meet the Equity Release Council's standards which are designed to protect you. The Equity Release Council sets these standards and protections for equity release and later life lending in the UK.

No negative equity guarantee

Our no negative equity guarantee means you’ll never owe more than your home is worth when the plan ends, so your family won’t inherit debt related to the lifetime mortgage.

However, it’s important to remember that a lifetime mortgage may leave you with limited or no property equity remaining, and it’ll reduce your financial options in the future.

Moving home

You may be able to take your plan with you if you move. Your new property must meet our criteria at the time.

We may ask you to repay part of the amount outstanding on the lifetime mortgage if the maximum loan available on your new property is lower than the outstanding balance of your existing lifetime mortgage. Early repayment charges will not apply in this instance.

Stay in your home

You can stay in your home for life until the last applicant either passes away or moves into long term care, as long as the plan's terms and conditions are met.

Fixed rates

Your interest rate is fixed for life. If you choose a plan where you agree to make interest payments, known as an interest reward option, you may get a discounted rate as long as you keep up those repayments for the agreed term.

Are you eligible for a more2life lifetime mortgage?

To apply for one of our lifetime mortgages from an award-winning lender, you need to:

Be aged 55 or over*

Own a home in the UK that's worth at least £70,000**

Need to borrow
at least £10,000

Live permanently in your home***

*For joint life applications, you both need to be over 55

**Not including the Isle of Man, Channel islands, or Northern Ireland.

***It must be your main residence and shouldn't be unoccupied for more than three months per year.

Getting the right advice

To take out a lifetime mortgage, you ﬁrst need to receive advice from a qualiﬁed equity release adviser
who’ll look at all your options and tell you if it’s right for you.

If you’re yet to ﬁnd an equity release adviser, we recommend searching the Equity Release Council's
database of registered equity release adviser members. All Equity Release Council members have agreed
to abide by Equity Release Council rules, guidance and standards, and have signed up to the Council's
Statement of Principles.

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