sunflower on summers day

How does a lifetime mortgage work?

A lifetime mortgage is when you borrow money secured against your home, provided it’s your main residence, while retaining ownership.

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.

If there is not enough money left from the sale, your beneficiaries would have to repay any extra above the value of your home from your estate. To guard against this, most lifetime mortgages offer a no-negative-equity guarantee.

There are two types of lifetime mortgages you can choose from each with with different costs involved.

We recommend seeking expert advice to figure out which is the best option for you.

Speak with us

Find out more

Scroll to Top