Lifetime Mortgage Drawdown+:

SkipNav

Lending limits - Lifetime Mortgage Drawdown+

We offer a minimum initial loan of £10,000. The table shows the maximum cash reserve we’ll offer, based on the age of the youngest applicant and the maximum percentage of the property’s value.
 
We have nine options for your client to choose from – suitability is based on your client’s age, and the cash facility they need. We lend on properties valued between £100,000 and £5,000,000.
 
Age of youngest applicantMaximum % of property value as a cash reserve facility
Drawdown+ Super LiteDrawdown+ LiteDrawdown+ Standard 1Drawdown+ Standard 2Drawdown+ Standard 3Drawdown+ Standard 4Drawdown+ Max
557%9%12%15%17%18%20%
568%10%13%16%18%19%21%
579%11%14%17%19%20%22%
5810%12%15%18%20%21%23%
5911%13%16%19%21%22%24%
6012%14%17%20%22%23%25%
6113%15%18%21%23%24%26%
6214%16%19%22%24%25%27%
6315%17%20%23%25%26%28%
6416%18%21%24%26%27%29%
6517%19%22%25%27%28%30%
6618%20%23%26%28%29%31%
6719%21%24%27%29%30%32%
6820%22%25%28%30%31%33%
6921%23%26%29%31%32%34%
7022%24%27%30%32%33%35%
7123%25%28%31%33%34%36%
7224%26%29%32%34%35%37%
7325%27%30%33%35%36%38%
7426%28%31%34%36%37%39%
7527%29%32%35%37%38%40%
7628%30%33%36%38%39%41%
7729%31%34%37%39%40%42%
7830%32%35%38%40%41%43%
7931%33%36%39%41%42%44%
8032%34%37%40%42%43%45%
8133%35%38%41%43%44%46%
8234%36%39%42%44%45%47%
8335%37%40%43%45%46%48%
8436%38%41%44%46%47%49%
House behind a stack of coins

Single or joint lifetime mortgage

  • Single lifetime mortgage – if your client lives alone, the loan will need to be repaid on their death, or when they move into long term care.
  • Joint lifetime mortgage – if your client is living with their partner, civil partner, or spouse, they’ll both need to be named on the property deeds and in their lifetime mortgage application. The loan will need to be repaid when both have died, or have moved into long term care.
Document with % sign, behind a stack of coins

Additional borrowing

The maximum loan we can agree upfront is £1,500,000 or the maximum percentage value of the property – whichever is lower.

We would consider additional borrowing if:

  • Your client’s property value has sufficiently increased.
  • Your client has moved to another house which is worth more, and meets our lending criteria.

Any additional borrowing will only be considered once the original cash facility is exhausted and will be in the form of a one-off advance, not a facility extension.

Fees

We offer a free valuation on all initial applications, these valuations are honoured for six months. If the completion takes longer than this, a revaluation might be needed which will be charged at the rates applicable at the time.

A valuation fee will also apply for any additional borrowing. We will also charge a valuation fee if your client wants to move and transfer their lifetime mortgage to a new property or they want to sell part of their land and remove it from the lifetime mortgage. 

We have a Tariff of Charges for certain administrative costs which may be incurred during the term of our lifetime mortgages. Our Tariff of Charges document details these charges.
ValueValuation fee
£100,000 - £150,000£170
£150,001 - £200,000£195
£200,001 - £250,000£202
£250,001 - £500,000£268
£500,001 - £700,000£410
£700,001 - £900,000£675
£900,001 - £1,100,000£950
£1,100,001 - £1,250,000£1,100
£1,250,001 - £2,000,000£1,250
£2,000,001 - £2,500,000£1,379
£2,500,001 - £3,000,000£1,634
£3,000,001 - £3,500,000£1,889
£3,500,001 - £4,000,000£2,145
£4,000,001 - £4,500,000£2,400
£4,500,001 - £5,000,000£2,655
Contact Phone

Let's talk

0800 028 8974

8.30am - 5.30pm Mon-Fri

TextDirect: first dial 18001. We may record or monitor calls for training and audit purposes.