At a glance

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

Plan features

Cashback

Depending on which plan you choose, up to 5% of the loan amount is available as cashback. This is not added to your loan, so no interest is payable on any cashback you take.

Downsizing protection

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, partner or joint applicant 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.

Partial repayments

You can choose to make partial repayments of up to 12%* per year without incurring any early repayment charges. Minimum repayments start at £50, and repayments must not exceed 12%* of the loan amount per year.

*Dependent on plan.

Fixed ERCs

The majority of our plans have fixed ERCs, so you'll always know what the charge will be if you were to repay your loan early.

Inheritance protection

This comes as standard and at no extra cost. If you don't take the maximum loan available to you, you can protect the remaining proportion of unused loan as an inheritance for your loved ones. For example, if you only need 60% of the loan available to you, the remaining percentage (40% in this example) is the percentage of your home's future value which is guaranteed for your beneficiaries. This feature is capped at 50% of your property's value on some plans.


FAQ's

  • Are there any limits on the drawdown facility?

    There is no limit on the number of drawdowns you can release, 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 partial 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?

    Some of our plans come with inheritance protection as standard which allows you to protect a percentage of your home's future value for loved ones, if you don't take the maximum loan available to you.

  • 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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