Lifetime Mortgages

This is the most common type of Equity Release that allows you to unlock the value in your home as a tax-free lump sum of money. Find out here the dfferent types of lifetime mortgages and the most important things to consider before starting the equity release journey.





A lifetime mortgage is a mortgage loan secured against your home giving you access to a pot of cash while still owning your own property and living in it. The loan is repaid when you die or go into long-term care. This type of equity release is available for homeowners aged 55 or older.

There are different types of lifetime mortgages.

 An enhanced lifetime mortgage plan could help you release more equity from your home due to your health or lifestyle choices. With this type of lifetime mortgages you may be entitled to an increased lump sum or a lower interest rate if you suffer of health problems, such as diabetes or high blood pressure, if you’re a smoker or if you are overweight.




  • You can release up to around 60% of the value of your home. How much you can release depends on your age and the value of your property.
  • You have the right to continue to live in your property until you die or move into long-term care, as long as the property is your main residence.
  • If you receive any means-tested benefits or want to apply for these in the future, the amount of benefits you may receive will be affected by equity release or you may even no longer be eligible for them. Benefits that can be affected are pension credits, universal credit, job-seekers allowance, council tax support, income support.
  • Lifetime mortgages come with a “no negative equity guarantee” which means that when your home is sold and all the fees have been paid, if the amount left is not enough to pay off the outstanding loan, you or your inheritors will not be liable to pay the difference. In other words, whatever happens to the value of your property, you will never owe more than the price it is sold for.

  • You may pay off the interest or even make repayments, depending on the product you chose. The amount you can repay is based on your income and this will be assessed by the lender.

  • If you decide to pay off the loan early you may be charged early repayment fees which can be quite high.
  • The interest on life-time mortgages is “compounded” or rolled up every year: this is calculated based on the loan amount plus all the interest accrued in previous years. This can significantly increase the amount owed over a long period of time.
  • You may move to another property as long as the new property is accepted by your equity release provider as security for the loan you have taken out.
  • Lifetime mortgages are regulated by the Financial Conduct Authority. 

**This is a lifetime mortgage. To understand the features and risks, please ask for a personalised illustration. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice**





With Fairview Financial you will have the peace of mind that we will take the time to understand your situation in order to ensure we recommend the right product for you. You will have a dedicated adviser who will be supporting you through the entire process, from the initial phone call until your cash is released.

Our advisers are also fully qualified to look at all the later life borrowing options that are available to you to help in your retirement and if equity release is not right for you, we will tell you and recommend a more suitable option.

Learn more about our euity release specialist here.




We are proud members of the Equity Release Council.

For you, this is a guarantee that we offer products and services which conform to the best practices of the equity release sector. As members, we comply with the council’s principles:

  • We will ensure that all our actions promote public confidence in equity release.
  • We will act at all times in utmost good faith, with our clients’ best interests being paramount.
  • We will offer our clients the products and services that best suit their needs and which are fairly priced.
  • We seek to identify and provide appropriate support to customers who may be exposed to physical, mental and financial vulnerability at any point of contact.
  • Our customers will be confident that they will be able to live in their own home for as long as they wish, or move to a suitable alternative property, as long as they abide by the terms and conditions of their contract.


WE will search the whole of market ACROSS thousands of mortgage deals to find you the right MORTGAGE.null