Your Guide to Preparing Your Lifetime Mortgage Application

Please note that many of the requirements outlined are subject to relevant criteria and conditions.

Personal Details

Please have the following on hand for every applicant:

Purpose of Funds: A clear breakdown of why you need the funds (e.g., home improvements, debt repayment) - if you’re repaying an existing mortgage, include the lender name and account reference.

Full Legal Name and Address History: Your full legal name (including all middle names), as well as a complete three-year address history.

Marital Status: You’ll need to provide details of your current marital status.

Change in Ownership: If you’ve inherited or transferred property (e.g., divorce), let us know who’s joining or leaving the title, and their entitlement share.

Additional Occupants: For anyone over age 17 either moving in or currently residing, please provide full legal name and date of birth (a deed of consent will be required).

Adverse Credit Information: Please disclose any instances of adverse credit such as bankruptcy, Individual Voluntary Arrangements, Debt Management Plans, Debt Relief Orders, County Court Judgements, charging order, arrears or defaults in the last six years. Make sure you Include amounts, creditor names, and whether these have been satisfied or are ongoing.

Property Information

We’ll need detailed information about the property you wish to lend against, including:

Basic Details: Please provide basic information such as estimated current value, property type (detached, semi-detached, terraced, bungalow, flat), whether it’s ex-local authority, the number of bedrooms, and whether it’s freehold or leasehold.

Leasehold Specifics: if you’ve a leasehold property, you’ll need to provide information relating to the remaining lease term, as well as annual ground rent and service charges.

Construction and Add-Ons: You’ll need to provide information around the construction type (i.e brick, timber, etc.) and year built. If you’ve got solar panels, please specify if they’re owned or leased.

Flood History and Insurance: You’ll need to provide information relating to whether the property has flooded in the last five years, and whether you’ve any flood-related insurance premiums.

Neighbourhood Factors: Your lender will need to know about proximity to commercial premises that could affect future saleability.

Estate Charges and Managemen: If your property is subject to an estate charge, you’ll need to confirm the charge amount and any escalation terms (e.g., linked to RPI) as well as whether the management company is resident-run or third-party.

Documents to Gather

Personal ID: you’ll need to provide proof of ID and address as part of the process, either electronically or through submitting documents. Your adviser will be able to talk you through the process and exactly which documents you’ll need depending on which route you elect to choose.

If you’re divorced or separated we may need sight of the legally binding documents, please confirm the date of your divorce or separation with your adviser.

If you own a leasehold property, we will need the latest service charge statement. Additionally, we will also need to review the lease, though we will try and obtain this from the land registry in the first instance.

If your property has leased solar panels, we will need to see a copy of the lease agreement.

If your property subject to an estate charge, we will need the following details on letter headed paper/email from the management company of the estate: the charge amount, whether there’s a cap or any escalation terms (i.e. in line with Retail Price Index), and whether the management company is run by residents or by a third party. Please discuss your chosen product requirements with your advisor before obtaining this information.

Tips for a Smooth Application

• Collect and verify all information before you apply.

• Understand that detailed questions upfront prevent delays later.

• Keep copies of everything you send for your records.

• Contact your adviser if you’re unsure about any requirement.

The more complete your application is from day one, the quicker you can enjoy the benefits of your lifetime mortgage. If you have questions or need help gathering any of the above, your adviser is there to support you every step of the way.