You retain full ownership of your home.

As long as interest payments are maintained on a monthly basis the amount you borrow never increases. The original loan is only repaid when your house is sold. This could be when you die, enter into long-term care or move property.

Unlike conventional mortgages the interest rate for this type of equity release is usually fixed for life. This gives you the peace of mind and certainty that your monthly repayments will never increase.

If your circumstances change in the future, you have the option to switch to a lifetime mortgage with no monthly repayments. This change may result in a higher interest rate being applied to the borrowing but ensures you can remain in your home even if payments become unaffordable.

If you choose a plan with a variable interest rate, it is important to consider your ability to maintain repayments should your monthly payment rise as a result of an increase in interest rates.

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.