Freestyle® Lifetime
Why choose this mortgage?
We developed this mortgage through research with financial advisers and customers to ensure we created a competitive and fair lifetime mortgage that provides you with a tax-free lump sum to help you live life in your retirement.
We developed this mortgage through research with financial advisers and customers to ensure we created a competitive and fair lifetime mortgage that provides you with a tax-free lump sum to help you live life in your retirement.
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Special Offer |
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This feature is included in your mortgage |
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This feature can be added as an optional upgrade |
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This is an additional product to your mortgage |
Features |
Benefits | The facts |
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The amount you repay can never be more than the best reasonable market price that your home obtains when it is eventually sold.
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Even if the amount you borrow (plus compounded interest) is more than the selling price, you will not have to repay any more than the amount your home is sold for.
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Your interest rate is fixed for the duration of your mortgage.
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Accrued interest will be compounded annually.
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There are no repayments to be made on your mortgage until your mortgage comes to an end.
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Your mortgage must be repaid when you or the remaining applicant die or move out of the home and into long-term care.
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Reduce your initial costs by adding your arrangement fee and solicitor fee to your loan.
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This will increase the amount that is secured on your property.
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Move your mortgage with you when you move home.
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Depending on the value of your property, you may have to repay part of your mortgage.
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Access to additional borrowing
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Drawdowns on your Cash Reserve will increase the amount secured on your property on which interest is charged
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Our mortgage complies fully with guidelines set by Safe Home Income Plans.
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Ensures we provide a fair, easy to understand, full presentation of our Lifetime Mortgage.
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THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION.
