Lifetime Mortgage Lump Sum+:

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Lump Sum+ features

Your client’s home is likely their biggest asset. A lifetime mortgage can help unlock the equity tied up in their home – meaning they can achieve their objectives in later life.

There are many features available, including:

  • No interest repayments throughout the life of the loan – the loan and rolled-up interest is repaid when your client dies or moves into long-term care.
  • Minimum age 60 – maximum age 95.
  • Additional borrowing may be available (it is not guaranteed).
  • Maximum lending of up to £1.5million.
  • For joint mortgages, ERC free repayment within 3 years of first death or move into long term care.
  • Interest rate linked to age and LTV.
  • A ‘No Negative Equity’ guarantee.
  • Fixed early repayment charges ending after 10 years.
  • Unlimited repayments of minimum £50 totalling up to 10% of the original advance each year, free of any early repayment charge.
  • Downsize protection included for full repayment from year five onwards.
  • Support your clients and their families with LV= Doctor Services and Care Navigator, our added value benefits.

Product details and rates

Find product details, loan amounts and repayment charges here.Lifetime Mortgage Lump Sum+ product details and rates

Even more flexibility for your equity release clients, with our new cashback option.

Lifetime Mortgages Cashback

Terms and conditions apply

More on Lifetime Mortgages Cashback

Important information

Being aware of the options available is crucial – here are some important things you should know about our Lifetime Mortgage Lump Sum+.
  • Your client can repay some or their entire mortgage at any time, but an early repayment charge may apply in the first 10 years.
  • The interest rate is fixed for the life of the loan. Please remember that the loan plus interest can add up very quickly.
  • Further cash advances will depend on our lending criteria at the time.
  • It's important that your client speaks with their family before taking out an Equity Release product, particularly any beneficiaries in their will.
  • This is a lifetime mortgage. To understand the features and risks ask for a personalised illustration.
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LV= Equity Release Portal

Our online portal puts people first, not paperwork. You can obtain personalised illustrations and submit new business applications through the portal.

Rates

Our rates are based on age and LTV. The table shows the rates based on LTVs available for a 70-year old. For a 60-year old, the LTVs would range from 15% to 27%, with the same distribution of rates. See a full list of our LTVs.

These rates apply for initial borrowing only. The interest rate applied to any further advances will depend on both the total LTV and prevailing interest rates at the time of the advance. It’s likely to be higher than the rate applicable to new customers.

On a joint life basis, the interest rate for the lowest age will apply. We charge interest daily to calculate the amount owed if a repayment is made part way through a year.
LTV Scale at age 70AER (fixed)Monthly equivalent
25%3.03%2.99%
26%3.03%2.99%
27%3.03%2.99%
28%3.07%3.03%
29%3.07%3.03%
30%3.15%3.11%
31%3.15%3.11%
32%3.22%3.17%
33%3.22%3.17%
34%3.23%3.18%
35%3.34%3.29%
36%3.35%3.30%
37%3.35%3.30%
Rates correct as at 13 April 2021.

Highly rated for our Lifetime Mortgage Lump Sum+

Moneyfacts and Defaqto conduct an annual assessment of the market. As a result, we’ve been rated 4 stars for our Lifetime Mortgage Lump Sum+.
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Supporting your clients

Our support goes beyond offering quality lifetime mortgage products. We understand your clients – as their lives change, the need for quality and convenient medical services grow.

At no extra cost, LV= Doctor Services gives your client and their spouse/partner, fast and easy access to medical services:

  • Prescription services – clients can get a private prescription, without needing to visit their GP.
  • Remote GP 24/7 – unlimited consultations with a UK doctor by phone or video.
  • Second opinion – clients can check a diagnosis and get advice on treatment options.
  • Remote physiotherapy – clients get free sessions with a trained UK physiotherapist.
  • Discount health MOTs – 25% off services that identify health risks, offering areas for improvement.
  • Psychological services – clients get free sessions of mental health support, from counselling to Cognitive Behavioural Therapy.

LV= Doctor Services is a non-contractual benefit which can be changed or removed at any time.

More on LV= Doctor Services

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Care Navigator

Considering care options can be stressful. To help your clients navigate the care system, we’ve partnered with MorganAsh to offer Care Navigator. 

  • Designed to help people looking for care options later in life.
  • Provides specialist support and guidance for those facing the challenge of care needs, for your client or their loved ones.
  • 10% discount on the services offered.
  • Free, no obligation initial consultation.

More on Care Navigator

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We’re a mutual

We’ve been providing financial stability since 1843 – and we’re fully committed to the intermediary market. As a mutual, we’re owned by our members - anyone who holds a product with us, including fixed term annuities and drawdown products.

Our membership model means we don’t focus on generating profits for shareholders. This lets us take a longer-term view on focus on doing what’s right for our customers and members.
Contact Phone

Let's talk

0800 028 8974

8.30am - 5.30pm Mon-Fri

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