Lifetime Mortgage Lump Sum+:

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Lending limits - Lifetime Mortgage Lump Sum+

We offer an initial minimum loan of £10,000. We’ll lend based on the age of the youngest applicant and the maximum percentage of the property’s value.

We don’t lend on properties worth less than £100,000. The maximum property value is £5,000,000.
Age of youngest applicantMaximum % of property valueAge of youngest applicationMaximum % of property value
60277843
61287944
62298045
63308146
64318247
65328348
66338449
67348550
68358651
69368752
70378853
71388954
72399055
73409155
74419255
75419355
76419455
77429555
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 if 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.
Calendar, document with a £ sign behind a coin stack

Further advances

It may be possible for your client to borrow more money at a later date – but we can’t guarantee it. If they are, we’ll need to arrange a valuation.

If your client knows they’ll need to borrow more in the future, they may be better suited to our Lifetime Mortgage Drawdown+.

Fees

Our application fee is £595, for loans less than £50,000. We would normally deduct this from the loan on completion. Clients with loans over £50,000 are exempt from this fee.

We will request a valuation fee before we send someone out to value your client’s home. It’s non-refundable – even if the application doesn’t go any further. Valuations are honoured for six months – a revaluation might be needed if completion takes longer than this.

From 8 July 2020, we clarified our charges – which may apply during the term of our lifetime mortgages. This will apply to all offers issued after 8 July 2020. Our Tariff of Charges document details these charges.
Property 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 - £1,500,000£1,250
£1,500,001 - £1,750,000£1,250
£1,750,001 - £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

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