Our Emerald range offers LTVs up to 49%, 7-year ERCs, no upfront initial loan fees and up to 12% ERC-free optional partial repayments, with a maximum of 12 repayments a year.
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No negative equity guarantee
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Downsizing protection
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ERC free repayments
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Partial repayments
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Fixed ERCs
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Direct Debits
Conditions and Details
| 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: 89 (+ 364 days) |
| Property Location | England, Wales and Mainland Scotland |
| Property Value |
Minimum Property Value:
£120,000 (£150,000 if ex-local authority)
Max Property Value: No maximum property value |
| Loan Size |
Minimum Loan Size:
£10,000
Max Loan Size: £1,500,000 |
| Drawdown Facility |
Both lump sum and drawdown products are available
Minimum Drawdown Facility: No minimum Maximum Drawdown Facility: Dependent on the maximum loan-to-value for the customer Minimum release from drawdown facility: £500 |
| Cashback | Cashback is not available |
| Partial Repayments | Up to 12 repayments can be made up to 12% of the advance amount per year early repayment charge (ERC) free. The minimum partial repayment amount is £50. |
| Loan to Values (LTVs) | Maximum LTV is 23.00% - 49.00% 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 intial 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.
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Documents
- Pure Emerald Product Statement
- A Guide to Pure Retirement
- Pure Emerald at a Glance
- Pure Emerald Application Form
- Pure Emerald Lending Criteria
- Pure Emerald Customer Product Guide
- Pure Emerald Early Repayments Charges Guide
- Pure Emerald Tariff of Charges Guide
- Pure Emerald Plan Terms & Conditions England and Wales 2021 Edition
- Pure Emerald Plan Terms & Conditions Scotland 2021 Edition
- Acceptable Forms of ID
- Emerald Frequently Asked Questions
- Further Advance Process Flow
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