Lifetime mortgages: giving you the freedom to live as you choose

We help homeowners across Basingstoke and beyond to access the funds they need

With a lifetime mortgage, you take out a loan secured against your home. This does not need to be repaid until you die or go into long-term care. It frees up some of the wealth you have tied up in your home and still allows you to continue living there. 

How does a lifetime mortgage work?

You still own your home and are responsible for maintaining it. Interest is simply charged on what you have borrowed. This can be repaid or added on to the total loan amount. When you die or move into long-term care, the home is sold and the money from the sale is used to pay off the loan. The remainder then goes to your beneficiaries.

To guard against the possibility that the sale of your estate will not pay off the mortgage, most lifetime mortgages offer a no-negative-equity guarantee (Equity Release Council standard).

We will discuss all of this with you when you contact us, so don’t worry! We will always make suggestions that we feel are in your best interests, based on your circumstances and needs.


Protect yourself, your family and your assets against any eventuality.
Speak to Mark about protection insurance on 01256 518318 or email


Types of lifetime mortgage

  • Interest roll-up mortgage:
    Where you receive a lump sum or are paid a regular amount and get charged interest on top. No regular repayments – just repay the full amount at the end of your mortgage term when your home is sold.

  • Interest-paying mortgage:
    You get a lump sum but must make either monthly or ad-hoc payments. This reduces, or stops, the impact of interest roll-up. The amount you borrowed is repaid when your home is sold at the end of your mortgage term.

  • Lump sum or income?
    You can choose to borrow a lump sum at the start, or an initial, lower loan amount with the option of a drawdown facility.

    The drawdown facility is ideal if you want to take regular or occasional small amounts. This means you only pay interest on what you actually need, rather than on one, big loan.

Is it right for you?

This depends on your age and personal circumstances. Here are some factors to consider

  • It might affect what you leave as inheritance.
  • With an interest roll-up mortgage the total amount you owe can grow quickly. This could mean you end up owing more than the value of your home. An Equity Release Council standard can safeguard against this.
  • A mortgage with variable interest rates can mean the interest rate rises significantly. This can be capped with an Equity Release Council standard.
  • It might affect your tax position and entitlement to means-tested benefits. You’ll be expected to keep your home in good condition within the framework of reasonable maintenance.

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Recent Articles on Lifetime Mortgages

Researching Equity Release

FCA warning letter about equity release

Older borrowers are at greater risk of purchasing unsuitable equity release products or lifetime mortgage products, the Financial Conduct Authority (FCA) has emphasised in a letter. Consumers facing financial stress are also more susceptible to the purchase of unsuitable equity release products, the letter noted. Given ongoing cost-of-living challenges, demand for credit is expected to

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