Designed for clients who still want to stay in their home but want to release some of its value to help
Free up money for retirement - tax free lump sum with no monthly repayments.
No negative equity guarantee so your client won't have to repay any more than the market value of their home.
Fixed interest rate for the term of the mortgage.
No medical or credit checks required.
Potential Cash Reserve facility for first five years which may allow your client access to additional funds at no extra cost.
Portable loan - your client can take it with them if they move.
Peace of mind - this mortgage complies fully with the guidelines set by SHIP (Safe Home Income Plans).
Early repayment charges apply for the first 10 years on each drawdown.
If your client moves to a property of a lower value, they may have to repay a portion of the mortgage.
Minimum age of younger applicant must be 60 - there's no maximum age.
Favourable tax treatment of lump sum payments may be changed in the future.
Interest will accrue and compound annually.
Applications for drawdowns must be submitted by a Financial Adviser.
Cash Reserve drawdowns are subject to a minimum withdrawal of £5,000 each time. Drawdowns will increase the amount secured on your client's property.
Admin fees apply. Please see our tariff of charges.
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