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Voluntary Payment

A lifetime mortgage which provides your client with a one off lump sum and which allows your client to repay up to 10% of the initial loan amount each year without incurring an early repayment charge (ERC).

As these are voluntary repayments and can be made at any time to suit your client's circumstances, this product is not subject to any affordability assessment.

To open a Voluntary Payment Lifetime Mortgage for your client, login or register using the links below.

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Who could it be suitable for?

Clients who:

  • Have some concerns about the impact of interest roll-up and how this will reduce the equity in their property
  • Have family with concerns about the impact of interest roll-up on their inheritance
  • Like the idea of paying something off the debt but can’t commit to regular payments
  • Have a residual mortgage debt they wish to continue to pay down in retirement
  • Are looking for flexibility in managing their finances in retirement
Lifetime Mortgage Calculator

Lifetime Mortgage Calculator

Use our calculator to show your client the outcome of making voluntary payments of up to 10% of the initial loan amount each year

Calculate

Current interest rates

FIXED RATES Lite LTV Standard LTV
Monthly Interest Rate (MER) 5.37% 6.13%
Annual Interest Rate (AER) 5.50% 6.30%
CURRENT VARIABLE RATES Lite LTV Standard LTV
Monthly Interest Rate (MER) 5.99% 6.19%
Annual Interest Rate (AER) 6.16% 6.37%
2-YEAR FIXED RATES
(until 30 November 2020)
Lite LTV Standard LTV
Monthly Interest Rate (MER) 4.40% 4.70%
Annual Interest Rate (AER) 4.49% 4.80%

Interest Roll-up

Our Lump Sum Interest Roll-up Lifetime Mortgage allows your client to release money without having to worry about having to repay anything during their lifetime.

Interest Payment

Our Lump Sum Interest Payment Lifetime Mortgage is specifically designed to allow your client to repay some or all of the interest each month, for a period of their choice.

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