A lifetime mortgage is a form of equity release scheme whereby a loan is secured against your property, providing you with a tax-free cash lump sum or a regular income to spend as you wish.
Interest is added to the lifetime mortgage loan throughout your lifetime, accruing at a fixed or variable rate. The loan plus interest is eventually paid back when the home is sold which could be when you move into long term care, or when you and your partner die. Subject to your age you can typically release between 18-50% of the value of your home with a lifetime mortgage.
Please note: You can get interest only lifetime mortgages wherein you pay interest monthly, but lifetime mortgages are mainly offered as 'rolled up' interest. 'Rolled up' interest is paid off all-together in one final payment along with the total amount of your loan when your property is sold, as described above.
A LIFETIME MORTGAGE CAN QUICKLY ERODE THE REMAINING EQUITY AND AS A RESULT THERE MAY BE NO VALUE LEFT TO PASS ON.
THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.
Value | Move | % |
FTSE 100 | ||
6658.97 | 33.03 ![]() |
0.498 ![]() |
FTSE 250 | ||
21312.65 | 254.93 ![]() |
1.211 ![]() |
FTSE 350 | ||
3817.69 | 23.83 ![]() |
0.628 ![]() |
FTSE All Shares | ||
3795.06 | 23.72 ![]() |
0.629 ![]() |
Dow Jones | ||
31961.86 | 424.51 ![]() |
1.346 ![]() |
Nasdaq | ||
13597.966 | 132.768 ![]() |
0.986 ![]() |
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Parklands Financial Advisers
52 Pinbush Road
Lowestoft
Suffolk
NR33 7NQ
T: 01502 531 633
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The guidance provided within this website is subject to the uk regulatory regime and is therefore primarily targeted at consumers based in the UK.
Parklands Financial Advisers is Authorised and Regulated by the Financial Conduct Authority.
Parklands Financial Advisers is entered on the Financial Services Register (www.fca.org.uk/register) under reference: 710277.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request and if you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4567.
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