What is a Flexi Payment Term Lifetime Mortgage?

Flexi Payment Term Lifetime Mortgage (Flexi PTLM) is a lifetime mortgage that requires a part-interest-serving payment for a fixed payment term. This allows customers aged 55–62 access to higher LTVs and/or lower borrowing costs than conventional lifetime mortgages.

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Availability of our Flexi Payment Term Lifetime Mortgage depends on a customer’s ability to meet credit and affordability requirements. The customer’s home may be repossessed if they fail to keep up with mandatory payments during the payment term.

Who is Flexi PTLM for?

Younger borrowers aged 55–62 with a property value of £125,000+

Those only willing or able to service a smaller portion of interest than a RIO or residential mortgage

Those who would like the flexibility to stop making regular monthly payments sooner

Those who would like to secure guarantee of tenure sooner

How does Flexi PTLM work?

Access higher LTVs earlier

Your client can unlock higher LTVs than would be available through the highest LTV conventional lifetime mortgages on the market by committing to a period of mandatory payments until the oldest applicant turns 66. 

LTVs correct as of 05/24

Secure Flexi's great low rates

Flexi Payment Term Lifetime Mortgage has three LTV tiers – low, medium and high – depending on your client’s LTV needs. Across all tiers, Flexi Payment Term Lifetime Mortgage provides access to lower interest rates than conventional high LTV lifetime mortgages.

Rates correct as of 05/24

How can it help deliver a better customer outcome?

Higher LTV

Your client can unlock LTVs up to 8% higher than a Flexi lifetime mortgage

Lower rate

Flexi PTLM offers higher LTVs than conventional lifetime mortgages but at Flexi rates

Guarantee of tenure

Your client is protected with guarantee of tenure, providing they meet all mandatory payments

Affordability

We only assess affordability on the LTV taken over and above conventional Flexi LTVs

Download your Flexi PTLM collateral now

Customer guide

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Product guide

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Packaging guide

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Lending criteria

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Flexi PTLM explainer

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Flexi PTLM vs other borrowing

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Case study example

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Flexi PTLM FAQs

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FAQs

Flexi PTLM is a live pricing environment, so LTVs and rates are calculated on an individual basis. However, your client can unlock up to 8% more than a conventional Flexi lifetime mortgage, dependending on age and requirements.

Yes, unlike other PTLMs, Flexi PTLM comes with overpayments from day one and your client can make up to a maximum of 12 voluntary overpayments in the year totalling 10% of the initial balance.

Flexi PTLM is currently available to homeowners aged 55-62 (+364), with plans to expand this in the near future. 

Yes, our Flexi Payment Term Lifetime Mortgage meets Equity Release Council standards. Your client is protected by the no negative equity guarantee and guarantee of tenure, subject to terms and conditions.
These are just a few of the most common questions we’re asked. To see more, download our Flexi PTLM FAQ guide. 

Download our Flexi PTLM FAQs

Want to learn more?

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