Heritage Freedom Product Range in Detail

Heritage Freedom 20 and Freedom 40 product range are the most flexible lifetime mortgages in the equity release market, allowing 20% or 40% ERC-free optional repayments, and 12 payments can be made within a year.

Heritage Freedom 20 logo

Heritage Freedom 20

Heritage Freedom 40 logo

Heritage Freedom 40

  • No negative equity guarantee
  • ERC free repayments
  • Partial repayments
  • Fixed ERCs
  • Porting available
  • Drawdown facility

Conditions and Details

Criteria Information
Age limits Minimum Age: 55
Maximum Age: 80
Property Location England, Wales and Scotland.
Property Value Minimum Property Value: £70,000.
Max Property Value: No maximum. Properties over £2 million are to be referred to Pure Retirement.
Loan Size Minimum Loan Size: £10,000.
Max Loan Size: £1 million (£800,000 for Max Plus and Super Max products).
Drawdown Facility Both lump sum and drawdown products are available
Minimum Drawdown Facility: £5,000
Maximum Drawdown Facility: £200,000
Cashback No cashback is available.
Partial Repayments Freedom 20 - up to 20% repayments can be made over 12 payments ERC-free. The minimum partial repayment amount is £500.
Freedom 40 - up to 40% repayments can be made of the advance amount over 12 payments per year ERC-free. The minimum partial repayment amount is £500.
Loan to Values (LTVs) Maximum LTV: 53.50% at age 80
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 There is no downsizing ERC exemption covered in the Heritage plans

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