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Equity release calculator
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Lifetime mortgages

Your home may be repossessed if you do not keep up repayments on your mortgage.

With a lifetime mortgage, you take out a loan against the value of your home. The lender gives you a lump sum or monthly income, or a combination of both. With a lifetime mortgage, no repayments need to be made, unless you choose to do so as part of your plan. The interest is rolled up, and usually repaid when you die or need to move into long-term care.

Some lifetime mortgage providers may allow you to take the capital in stages from a cash reserve. In which case, the interest payable, and therefore, the total debt on your lifetime mortgage redemption, builds up at a much slower rate. This is because interest only becomes payable when you choose to take capital.

Although there is no guarantee that property values will rise in the future, any rises in property values will offset the effect of the rolled-up interest.

Call us now

You can arrange to discuss any questions on lifetime mortgages, by calling our friendly experts on Freephone 0808 172 9355.

Equity Release is a lifetime mortgage or home reversion scheme. To understand the features and risks, ask for a personalised illustration
Retirement Experience will never charge you for your initial enquiry or consultation, so it will never cost you to find out if an equity release plan is right for you. A fee is only payable on completion of a suitable plan. This fee is typically £1795.

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Lifetime mortages