When charges don't applyEarly repayment charges do not apply if:
- The borrower moves house and transfers their mortgage to the new property.
- The last surviving borrower moves permanently into long term care.
- The last surviving borrower dies.
- A borrower (on a joint mortgage) passes away or moves into long term care and a repayment is made within three years of the date of death or move.
- The borrower fully repays after 5 years and moves to a property they wished to transfer their lifetime mortgage to that did not meet our lending criteria.
- The total debt is reduced or fully repaid using the money from an insurance company following damage to the property.
- The borrower chooses to make repayments totaling up to 10% of the original advance each year.