At a glance

  • Make up to 12% capital repayments each year, without penalty
  • Loans from £10,000 - £1,000,000
  • Loan to Values from 25.5% to 54%
  • Available to homeowners aged between 55 and 95

Plan features

Downsizing Early Repayment Charge Exemption

This feature is desgined to add peace of mind should your 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 Charge is 6% in years 1 - 5, in years 6 - 10, depending on the benchmark rate confirmed on your offer documentation, the ERC will be 6% if gilt rates have decreased or 0% if gilt rates have increased or stayed the same, and 0% from year 11 onwards.

Flexi repayment option

Up to 12% of the initial loan, with a minimum of £50, can be repaid each year with no Early Repayment Charges. 

Guaranteed Inheritance Feature

This feature comes as standard, at no extra cost. If the maximum loan available is not taken, whatever percentage of the available loan that is left unused is the percentage of the future property value which is protected. 


FAQs

  • 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.

  • How much can be repaid?

    Up to 12% of the initial loan can be repaid each year, with no Early Repayment Charges. A minimum of £50 must be paid each time.

  • 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 does the Guaranteed Inheritance Feature work?

    If the maximum loan available is not taken, whatever percentage of the available loan that is left unused is the percentage of the future property value which is protected.

  • 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 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.



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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