Can I move house with equity release?

If your new property that you are moving to meets our lending criteria at the time and we agree that you can, then you can happily move house and take your lifetime mortgage with you when you go. If you do move home and take your lifetime mortgage with you to the new property, it will incur some costs. You can find more information on this in the equity release Tariff of Charges, from your equity release adviser, or calling 0800 141 3493.

If your new home is worth less than the current one you may need to pay back some of the loan and interest. And if your new property doesn’t meet our lending criteria, you might be able to use downsizing protection – subject to our terms and conditions. Downsizing protection means you’ll be allowed to repay the lifetime mortgage with no early repayment charge. Once you've repaid your lifetime mortgage, then the loan is closed and you can buy your new property. Downsizing protection is available on lifetime mortgages applied for on or after 8 April 2019. Terms and conditions apply.

If your new property doesn't meet the lending criteria and you’re not eligible for downsizing protection, you will need to repay your loan, which might include an early repayment charge.

Find out more about equity release.