You borrow against your home
A lifetime mortgage is a loan secured on your property. You stay the legal owner and carry on living there.
Free lifetime mortgage calculator
Lifetime mortgage calculator — what could you release?
A lifetime mortgage is the most popular type of equity release: a loan secured against your home with no required monthly repayments. Answer a few quick questions and we'll estimate how much tax-free cash you could release based on your age and property value.
The estimate is indicative only. Your exact figure depends on the lender, the product, and your circumstances — which is what your free advice call covers.
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The basics
How a lifetime mortgage works
No monthly repayments required
Interest rolls up onto the loan instead. Many plans allow voluntary repayments if you want to reduce the roll-up.
It's repaid from the sale
The loan plus rolled-up interest is repaid when the last applicant dies or moves into long-term care.
You can never owe more than your home
Equity Release Council standards include a No Negative Equity Guarantee on every plan we arrange.
Understand the detail
Interest, repayments and your protections
Rolled-up interest
With a lifetime mortgage you don't have to make monthly repayments. Instead, interest is added to the loan each month and compounds over time — this is called "rolled-up" interest. The loan plus the rolled-up interest is repaid from the sale of your home when the last applicant dies or moves into long-term care.
Many modern plans let you make voluntary partial repayments to slow the roll-up, and some let you pay the interest monthly if you prefer. Your adviser will show you both versions side by side. Read more in our guide to equity release interest rates.
The No Negative Equity Guarantee
Every plan we arrange meets Equity Release Council standards, which include the No Negative Equity Guarantee: you can never owe more than your home is worth when it is sold, no matter how much interest has rolled up.
You also keep full ownership of your home, and most plans are portable if you want to move later, subject to lender criteria. Some products let you ringfence a percentage of your home's future value as a guaranteed inheritance.
Keep reading
Related guides
Equity release interest rates
How rates are set, what affects the rate you're offered, and how rolled-up interest compounds over time.
How much equity can I release?
Indicative release figures by age and property value, and the factors that move your personal figure up or down.
Equity release for over 60s
Our main guide to equity release, with FAQs, real customer examples, and our free estimate form.
Important. A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means-tested benefits. Think carefully before securing a loan against your property.