No monthly payments are required with this type of equity release plan and you retain full ownership of your home.

Fixed interest is added to your loan monthly or annually. The loan and accrued interest is not repaid until your home is sold. This could be when you die, enter into long-term care or move property.

It is important to understand that interest will be applied to both the initial loan and any interest that already been added as the loan progresses (Compound Interest).

As a result, this borrowing is more expensive than a standard mortgage with monthly repayments. The increased cost is to reward the equity release provider for releasing the funds without the need for monthly repayments.

A “no negative equity guarantee” ensures that regardless of the amount owed the debt can never exceed the value of your property.

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