Our Sovereign range offers wide-ranging lending criteria to suit a variety of client scenarios. Benefit from up to 4% cashback, a 21-day KFI guarantee, and up to 12 repayments per year, with a 10% ERC-free optional partial repayment allowance.
Our Sovereign range offers wide-ranging lending criteria to suit a variety of client scenarios. Benefit from up to 4% cashback, a 21-day KFI guarantee, and up to 12 repayments per year, with a 10% ERC-free optional partial repayment allowance.
Downsizing protection
Porting available
No negative equity guarantee
Fixed ERCs
Cashback available
Drawdown facility
Partial repayments
| 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: 85 |
| Property Location | Mainland England (including the Isle of Wight), Wales, and mainland Scotland |
| Property Value |
Minimum Property Value:
£70,000
Max Property Value: No maximum value. Please refer to Pure if over £6 million |
| Loan Size |
Minimum Loan Size:
£10,000 (cashback products £20,000)
Max Loan Size: Max loan size £2m (can refer if over) |
| Drawdown Facility |
Both lump sum and drawdown products are available
Minimum Drawdown Facility: £2,000 Maximum Drawdown Facility: Dependant on the maximum loan-to-value for the customer |
| Cashback | 4% cashback of the initial loan amount is available on selected products. Cashback is unavailable on Elite products |
| Partial Repayments | Up to 12 repayments can be made up to 10% 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% to 38.50% 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.
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