Flexible payment options. While there are typically no monthly repayments required with a lifetime mortgage, you have the flexibility to make voluntary payments without an early repayment charge, depending on the lending criteria. With the payment-term lifetime mortgage we recommend, you make mandatory payments* until the oldest applicant turns 66, however,
after that you can make reduced or no monthly payments and overpayments can still be made at any time, subject to criteria. Things to consider. It’s important to remember that a lifetime mortgage will reduce the amount of inheritance you can leave, and can reduce your financial options in the future.
* There’s a period of mandatory payments with a payment-term lifetime mortgage, and your home may be repossessed if you don’t keep up with these payments.
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