Our lifetime mortgage interest rates are tailored to you, so the interest rate you could get will be based on your individual circumstances.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.
APR stands for Annual Percentage Rate. You can use this to compare the cost of different lifetime mortgages from different lenders. The APR is worked out using a common formula that all lenders use. It takes into account not just the interest rate but all the costs and charges you'll have to pay, such as arrangement fees and valuation fees. This gives you a simple figure that allows you to compare the overall costs of different lifetime mortgages more easily.
The interest rate current at the date we receive your valid application is guaranteed for 14 weeks. If you complete within this period, the rate is then fixed for the lifetime of the mortgage.
If you don't complete within this period, the interest rate that applies to your lifetime mortgage will be the rate that's current on the day of completion. This rate could be higher or lower than the one that was current on the day of your application. You can pay an up-front re-booking fee to guarantee a new interest rate for another 14 weeks. Your new interest rate will be the one that's current on the day we receive the fee.
You'll also have to pay a re-booking fee if you cancel your application and then re-apply within 6 months of your original application. You'll find further details in your Tariff of Charges (PDF 416KB).
We'll tell you if the completion of your loan takes longer than 14 weeks and the interest rates have gone up, so you'll be able to review your application and decide whether you want to go ahead. If you choose not to proceed, any fees you've paid won't be refunded.
With the Lifestyle Flexible Option, the interest rate we apply to each release from your cash reserve will be the rate current on the day you request an additional release and is guaranteed for 14 days. If you don't complete within the period, the rate that applies to your additional release will be the rate that's current on the day we issue the money. This could be higher or lower than the rate that was current on the day of your request.
Lifetime mortgages are not available in the Channel Islands and Isle of Man.
For more information call us on
0800 404 6220
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Use our calculator to find out if you could be eligible for a lifetime mortgage, which products may be available to you and how much you might be able to release.