What is a lifetime mortgage?
A lifetime mortgage plan is usually repaid when it comes to an end and your home is sold. This is when you or the last remaining applicant, either passes away or enters long-term care.
You can release tax free cash as a one off lump sum, or following an initial release in smaller amounts, which is known as a drawdown.
The amount you can release is dependant on a number of factors, such as age, health and lifestyle, and the value of your property.
Find out more about lifetime mortgages.