Classic lifetime mortgages offer LTVs up to 48%, personalised interest rates, no upfront initial loan fees and up to 10% ERC-free optional partial repayments, with a maximum of 12 repayments per year.
Classic lifetime mortgages offer LTVs up to 48%, personalised interest rates, no upfront initial loan fees and up to 10% ERC-free optional partial repayments, with a maximum of 12 repayments per year.
Downsizing protection
No negative equity guarantee
ERC free repayments
Partial repayments
Fixed ERCs
Free EPC valuation
| Criteria | Information |
|---|---|
| Personalised Quote | Customers will receive a unique quote based on their loan amount, age, property value, property type and location. Log into our KFI portal to get an exact quote for your customer. |
| Age limits |
Minimum Age:
55
Maximum Age: 84 |
| Property Location | England, Wales, and mainland Scotland (Classic Elite: England only). |
| Property Value |
Minimum Property Value:
£125,000 (£150,000 if ex-local authority or desktop valuation). Classic Elite: £2,000,001.
Max Property Value: £2 million in England, and £1 million in Scotland and Wales. Classic Elite: No maximum. |
| Loan Size |
Minimum Loan Size:
£10,000. Classic Elite: £100,000.
Max Loan Size: Based on the maximum property value and LTV. |
| Drawdown Facility |
Both lump sum and drawdown products are available
Minimum Drawdown Facility: £2,000. Maximum Drawdown Facility: Dependent on the maximum loan-to-value for the customer. |
| Cashback | No cashback is available. |
| Partial Repayments | Up to 12 repayments can be made of up to 10% of the advance amount per year early repayment charge (ERC)-free. The minimum partial repayment is £50. |
| Loan to Values (LTVs) | Maximum LTV is 22.50% - 48.00% depending on age. View LTVs. |
| Early Repayment Charges (ERCs) | Early Repayment Charges are fixed. For more details, please see the ERC guide. |
| Set up Costs | For set-up costs please see the Tariff of Charges. |
| Porting | The lifetime mortgage can be transferred to a new property, subject to it meeting lending criteria at the time. |
| Downsizing ERC Exemption | If the initial advance has completed over 5 years ago and the new property does not meet the prevailing lending criteria, then the borrower(s) may repay the entire loan ERC-free. |
| Direct Debits |
Monthly direct debits of a regular amount can be set up for partial repayments on these products.
 |
This website is not intended or approved for customer use. Return to our customer website.