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This type of mortgage is like a standard repayment mortgage but with some differences that could be beneficial in later life.
Discover more about your options below or call our experienced later life mortgage consultants on: 0800 146 100.
This type of borrowing can be a good option if you can afford to pay back both the capital and the interest payments and want to pay off the entire mortgage by the end of the term.
Please call us on 0800 146 100
Monday to Friday 8am-6pm.
Closed Sundays and Bank holidays.
After a quick Eligibility and Affordability check, we’ll then be able to arrange an appointment for you with one of our Later Life Mortgage Consultants.
To help with these conversations, it would be great if you have to hand:
With this type of mortgage, you only pay the interest on the amount you've taken out each month, meaning your monthly payments will be lower than a standard mortgage. And there’s no fixed term: The amount you borrowed won’t have to be paid back until the last remaining borrower moves into long-term care or dies.
With this type of mortgage there are no monthly payments to make every month, unless you choose to. The capital and interest will not be repaid until the last remaining borrower either moves into long-term care or dies. The term of this mortgage is not fixed. The Lifetime Mortgage could be ideal if you want to release some equity and if you would prefer not to make monthly repayments.
Think carefully before securing other debts against your home. Mortgages are secured on your home. You could lose your home if you do not keep up payments on your mortgage.