Why choose Nationwide

Releasing equity can unlock the hidden potential in your home – whether you’re looking to do home improvements, clear debt, or take that trip of a lifetime.

Our Lifetime and retirement mortgages for over 55s have:

  • No fees

    There are no valuation, product, or advice fees with these mortgages.

  • Free specialist mortgage advice

    Our specialist mortgage advisers can help you decide if releasing equity is right for you, and how much you could release from your home. Plus, there’s no obligation to apply.

  • Flexible payment options

    You can choose to make optional payments to reduce your mortgage balance.

To get advice about our Lifetime and retirement mortgages 

You need to be: 

  • aged 55 to 84 (or 94 if you already have a Nationwide mortgage)
  • applying for a mortgage on your main residence only

If you want to apply for a retirement mortgage, you’ll also need to be:

  • receiving a state, private or workplace pension. 

Our lifetime and retirement mortgages

We offer an equity release Lifetime mortgage and two retirement mortgages: Retirement Interest Only and Retirement Capital and Interest. If you’re over 55, these mortgages could all help you live a little better in retirement, by unlocking money built up in your home.

Lifetime mortgage

Our equity release product is a Lifetime mortgage. With this mortgage, you don’t have to make monthly payments - unless you choose to. The mortgage is usually repaid when the last borrower moves into long-term care or dies, and your home is sold. Any money left over is passed on to the people you name in your will.

Maximum borrowing amount: depends on your age and how much your property is worth.

Retirement Interest Only mortgage

With this mortgage, your monthly payments only pay off the interest on the mortgage. The capital is usually repaid when the last borrower moves into long-term care or dies, and your home is sold. Any money left over is passed on to the people you name in your will.

Maximum borrowing amount: £500,000.

Retirement Capital and Interest mortgage

With this mortgage, you pay back both the interest and capital monthly. So, you repay your mortgage in full by the end of its term.

Maximum borrowing amount: £500,000.

Information:

If you want to pay off your mortgage before you’re 75, you may get a better rate with our standard mortgages.


Alternatives to releasing equity

Releasing equity can impact the inheritance you leave, and any state benefits or local authority grants you receive.

Before deciding whether to borrow, it’s a good idea to speak with trusted family or friends. They could give you support or suggest other ways to raise the money you need.

Alternatives to releasing equity might include:

  • using any available savings
  • moving to a smaller home (downsizing)
  • getting help from family members
  • state benefits - if you’re eligible
  • a local authority grant - if you’re eligible
  • a personal loan or credit card.

Attend our releasing equity with Nationwide event

On the 16 November 2021, we're hosting a free, online event about releasing equity with Nationwide. Our specialist mortgage advisers will talk you through our range of borrowing options, plus you can ask any questions you might have.

Speak to us and find out how to apply

To find out if our Lifetime and retirement mortgages are right for you, and how much equity you could release from your home, get in touch.

We can arrange an appointment for you with one of our specialist mortgage advisers.


Member stories: Helping Andy and Christine enjoy retirement

With help from our mortgages for over 55s, they’re living retirement, their way.


Important:

Think carefully before securing other debts against your home. Your mortgage is secured on your home, which you could lose if you do not keep up your mortgage payments. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice.