Lifetime Mortgages

Lifetime mortgages allow you to borrow a sum of money against the value of your home.

You don’t need to make any monthly payments with lifetime mortgages because interest accumulates. It’s repaid when the property is eventually sold.

Lifetime mortgages are usually only available to people over 60. The amount you receive will depend on your age and on the value of your property. The older you are, the higher the amount that can be released. And if you want an income, most schemes allow a ‘draw-down’ facility.

Lifetime mortgages are regulated by the Financial Services Authority. This means only authorised firms like Blacktower can advise you on these products.

We only recommend lifetime mortgages from members of Safe Home Income Plans (S.H.I.P.). The S.H.I.P. code of practice includes the valuable ‘no negative equity’ guarantee.

If you elect to pay us a fee for arranging finance, our fee will be 1% of the advance with a minimum of £750.00.

To understand the features and risks of a lifetime mortgage, ask for a personalised illustration.

CHECK THAT THIS MORTGAGE WILL MEET YOUR NEEDS IF YOU WANT TO MOVE OR SELL YOUR HOME OR YOU WANT YOUR FAMILY TO INHERIT IT, IF YOU ARE IN ANY DOUBT, SEEK INDEPENDENT ADVICE