At a glance

  • Make capital repayments of up to 10% each year without penalty
  • Loan to values from 15% to 42%
  • Loans from £10,000 to £460,000
  • Available to homeowners aged between 55 and 84

Plan features

Downsizing Protection

This feature is designed to add peace of mind should the property be sold and the loan repaid in full due to moving to a property that does not meet our lending criteria.

After an initial period of five years, the loan can be repaid in full as a result of such a move without incurring any Early Repayment Charges.

Fixed ERCs

The Early Repayment Charges are based on a simple sliding scale over the first 15 years of the loan. 6% in years 1 - 5, 3% in years 6 - 10, 1% in years 11 - 15 and 0% from year 16 onwards.

Flexi Repayment Option

Up to 10% of the initial loan can be repaid each year, with no Early Repayment Charges. A minimum of £50 must be paid each time, and a maximum of 12 repayments can be made in each calendar year.

Lump Sum Plus

There is a variation of Flexi Choice Lump Sum available with increased loan to values, named Flexi Choice Lump Sum Plus. Please speak to your financial adviser for more details.


FAQs

  • How can a payment be made?

    Payments can be made by card over the phone by calling 03454 150 150. Direct Debits cannot be set up for this payment.

  • How much can be repaid?

    Up to 10% of the initial loan can be repaid each year, with no Early Repayment Charges. A minimum of £50 must be paid each time, and a maximum of 12 repayments can be made in each calendar year.

  • Is it possible to move home?

    All of our plans are portable, meaning that the plan can be transferred to a new home without financial penalty, as long as the new property meets the requirements of our lending criteria. If the new property does not meet our lending criteria, you could repay the loan in full without financial penalty through our Downsizing Early Repayment Charge Exemption after an initial period of 5 years, subject to lender criteria. If the new property is lower in value, or the original loan amount, plus interest, is greater than the LTV on the new property, some of the mortgage may need to be repaid. See our Tariff of Charges for details.

  • Is there an option for a Further Advance?

    Yes. Further Advances may be available on this plan, subject to lending criteria.

  • Is this plan suitable for me?

    You will need to speak to an adviser who specialises in equity release first to see if equity release is the right soluton for you. We have listed some of the things to consider before taking out equity release here, but your adviser will be able to make a suitable recommendation based on your personal circumstances.



Documents

Tailored Choice

Our Tailored Choice Plan provides a medically underwritten lending solution, with one of the best drawdown facilities on the market.

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Capital Choice

Our Capital Choice Plan allows for up to 10% of the capital to be repaid each year, with no Early Repayment Charges.

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Flexi Choice Drawdown

Our Flexi Choice plan allows you to take one or a series of lump sum payments

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Flexi Choice Drawdown Lite

Our Flexi Choice Drawdown Lite Plan is a drawdown lifetime mortgage with a competitive rate of interest

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Flexi Choice Super Lite

Our Flexi Choice Super Lite Plan is a lump sum lifetime mortgage which allows some of the capital to be repaid without penalty.

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Capital Choice Plus

Our Capital Choice Plus Plan allows for up to 10% of the capital to be repaid each year, with no Early Repayment Charges.

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Flexi Choice Lump Sum

Our Flexi Choice Lump Sum Plan is a lump sum lifetime mortgage which provides you with the flexibility to repay some of the capital without penalty.

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Flexi Choice Lump Sum Lite

Our Flexi Choice Lump Sum Lite Plan is a lump sum lifetime mortgage which allows for flexible repayments and features low Loan to Values.

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Maximum Choice

Our Maximum Choice Plan allows for up to 12% of the capital to be repaid each year, with no Early Repayment Charges.

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