At a glance

  • All features come at no additional cost
  • Always check your plan to see what features apply

Plan features

Cashbacks

3% of the loan amount is available, subject to a minimum release of £35,000.

Downsizing Early Repayment Charge Exemption

You could be covered by downsizing protection, allowing you to repay your plan without an early repayment charge (ERC) if you decide to move into a home outside our lending criteria. This is applicable after an initial five year period.  

Early Repayment Charge Waiver

You may have the ERC waived if you choose to repay your plan within three years of your spouse or partner passing away or moving into long-term care.

Enhanced rates

On our enhanced plan, we offer high Loan-to-Values (LTVs) - up to 54.5% - for a range of medical conditions and lifestyle issues. This could be from being overweight and smoking, through to conditions such as diabetes and cancer. All that would be required of you to qualify for an enhanced LTV would be simple 'Yes' or 'No' answers to a short list of medical questions, and in some cases, a letter from your GP. No medicals are required.

Fixed ERCs

The majority of our plans have fixed ERCs, so you'll always know what the charge will be.

Flexi Pay

You can choose to make capital repayments of up to 12%* per year with no Early Repayment Charges. Each repayment must be a minimum of £50 and must not exceed 12%* of the loan amount per year.

*Dependent on plan.

Guaranteed Inheritance Feature

This comes as standard and at no extra cost. You can protect up to 50% of your property value if you do not take the maximum loan amount available.


FAQ's

  • Are there any limits on the drawdown facility?

    No drawdown can be released in the same calendar year in which a partial repayment has been made. There is no limit on the number of drawdowns you can release within this criteria, and there are no charges for accessing the drawdown facility. 

  • Can I move house in the future?

    All of our plans are portable, meaning that your plan can be transferred to a new home without financial penalty, as long as the new property meets the requirements of our lending criteria. If you are thinking about moving house, it is always best to seek financial advice from a qualified equity release adviser. If you are moving to a property that is of a lower value compared to your current home, you may need to repay part of your lifetime mortgage. For more information on porting your loan and moving home, please contact our dedicated customer support team on 03454 150 150.
     

  • How do I make a capital repayment?

    You can contact our dedicated customer support team on 03454 150 150 to make a repayment.

  • If I qualify for an enhanced plan, will I need to undergo a medical?

    A medical examination is not required. We may however ask for your doctor to produce a medical report to verify your health conditions.

  • Is there an option to leave an inheritance?

    All our plans come with our Guaranteed Inheritance Feature as standard which allows you to protect up to 50% of the property value for your loved ones.

  • What are my obligations once the plan is arranged?

    You are required to live in and keep the property in a good state of repair for the duration of the loan. You are also required to inform more 2 life before anyone not party to the loan moves into the property. The property must be adequately insured for the duration of the loan. For more information you can refer to your Key Facts Illustration or contact our dedicated customer support team on 03454 150 150.

  • What costs are involved in setting up an equity release plan?

    The costs are dependent on your plan but you can refer to your Tariff of Charges to provide a breakdown of the costs involved. For more information you can also contact our dedicated customer support team on 03454 150 150.

  • What if I want to repay my loan?

    It is possible to repay the loan early; however, an early repayment charge may apply if you settle all or part of the loan before the death of the last surviving partner, or enter into residential long-term care. For more information you can contact our dedicated customer support team on 03454 150 150.

     



Our modern lending features

One of the things that sets us apart from other lenders is our innovative modern lending features. These features have been carefully designed to give you greater flexibility and control of your lifetime mortgage whilst also giving you a brighter financial future.

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