Interest Only Lifetime Mortgage

If you have a good retirement income with a sufficient monthly disposable income, you may be better off considering an interest only mortgage.


These schemes enable you to raise a lump sum from your property. They are similar to a conventional mortgage as you choose to repay the interest charged each month.

The term can be fixed at the outset to tie in with your retirement plans.

As you have chosen to make monthly payments, the balance will therefore remain the constant throughout the term of the plan.


  • If you retire early, you can use these plans to delay the ‘roll-up’ effect until later in life
  • Greater choice of products as we also have access to the whole of the mainstream mortgage market
  • A fixed rate can be selected over a number of years to coincide with retirement plans
  • The balance will remain at the same level throughout the term
  • Beneficiaries will know the exact amount to be repaid to the lender at the end of the plan


  • Some schemes will rely on your income to determine the initial amount borrowed
  • You need to keep up the future monthly repayments for the plan term
  • Your future income levels may change & repayment difficulties may arise
  • Loss of a partner, may result in having to make repayments from your own income


This is an equity release plan. To understand the features and risks, ask for a personalised illustration.

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