A Lifetime Mortgage is a mortgage that is designed for borrowers over the age of 55 to borrow against the value of their home. This mortgage gets repaid when the borrower goes into long-term care or passes away. Learn more >
Lifetime Mortgages FAQS
How much can I borrow with a Lifetime Mortgage?
If you are 55, then the maximum you can borrow is 23% of your property value on a Lifetime Mortgage. The older you are, the more you can borrow (always based on the youngest applicant – if it’s a joint mortgage). Once you get up to age 90, the borrowing amount is 55% of the property value. If you have health conditions, this may increase the amount that you can borrow.
How much deposit do I need for a Lifetime Mortgage?
Can I get interest-only on a Lifetime Mortgage?
What’s the process to apply for a Lifetime Mortgage?
Can I apply for a Lifetime Mortgage if I’m only receiving my state pension?
What can I use the money for if I take out a Lifetime Mortgage?
What documents do I need to provide to apply for a Lifetime Mortgage?
Can I get a Lifetime Mortgage with bad credit?
Can I have monthly payments on a Lifetime Mortgage?
Are there any alternatives to a Lifetime Mortgage?
Book A Call To Discuss Lifetime Mortgages
If you have an enquiry and would like to discuss Lifetime Mortgages in more detail, please get in touch or schedule one of our Lifetime Mortgage broker experts to give you a call.
At MRG Private Clients, we believe in providing our clients with personalised guidance and support when it comes to making important financial decisions. We are based in Medway, Kent but offer our specialist mortgage services nationwide. Learn more about our specialist mortgage services >
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