Lifetime Mortgages (Equity Release)
Clear, independent advice for homeowners aged 55 and over
Lifetime mortgage advice that supports your long-term plans
A lifetime mortgage is a form of equity release that allows homeowners aged 55 and over to access money tied up in their property, while continuing to live there.
Unlike traditional mortgages, most lifetime mortgages do not require monthly repayments. Instead, the loan and any interest is typically repaid when the property is sold, usually when you move into long-term care or pass away.
I provide independent lifetime mortgage advice for clients in Farnham, Surrey and Hampshire, helping you understand how equity release works and whether it is appropriate for your circumstances, both now and in the future. Advice is always given carefully, with transparency and a strong focus on long-term suitability and peace of mind.
What is a lifetime mortgage?
A lifetime mortgage allows you to borrow against the value of your home without the need to make regular repayments. You retain ownership of your property, and the mortgage remains in place for the rest of your life, provided you meet the terms of the agreement.
Most modern lifetime mortgages include a no negative equity guarantee, meaning you or your estate will never owe more than the value of your home.
How a lifetime mortgage works
- You continue to live in your property as your main residence
- Interest is added to the loan over time (unless voluntary payments are made)
- You release equity from your home as a lump sum or in stages
- The loan is repaid when the property is sold in the future
Modern lifetime mortgages include safeguards designed to protect homeowners and their families, including Inheritance Protection (if required), the right to remain in your home for life and a no negative equity guarantee.
Things to consider before taking out a lifetime mortgage
While lifetime mortgages can be suitable for some homeowners, they are not right for everyone.
Impact on inheritance
As interest is added over time, the amount repaid from your estate may increase, potentially reducing inheritance.
Effect on benefits and tax
Releasing equity may affect eligibility for means-tested benefits and adult social care funding. This should always be discussed as part of the advice process.
Long-term commitment
A lifetime mortgage is a long-term decision, and early repayment charges may apply if circumstances change.
Frequently Asked Questions
Do I still own my home with a lifetime mortgage?
Yes. You retain ownership of your property, provided you meet the terms of the mortgage.
Do I have to make monthly repayments?
Most lifetime mortgages do not require monthly repayments, although most allow voluntary payments to help manage interest.
Will a lifetime mortgage affect inheritance?
It can do. Because interest may be added over time, the amount repaid from your estate could reduce the value of inheritance. This is explained clearly as part of the advice process.
Is the initial consultation free?
Yes. Your initial consultation is free of charge and there is no obligation to proceed. Any fees will be explained clearly before you make a decision.
Explore your later life mortgage options
There are several ways to borrow against your home in later life. If this option isn’t quite right, there may be other ways I can help, depending on your income, priorities and long-term plans.