A lifetime mortgage allows your clients to unlock equity from their home without moving and is a loan secured against the client’s home.

Our Lifetime Mortgages can be taken as a lump sum with drawdown options. Choose from Flexible Lifetime Mortgage or Optional Payment Lifetime Mortgage.

Energy Saver Cashback offer

Helping your clients

We’ll provide 10% cashback on the total cost of home energy efficiency improvements, up to £1,000 on an initial advance or £200 on a drawdown.

ESC offer promo



Key documents

Product comparison

Use our comparison table to help decide which product may best suit your clients needs

  Flexible Lifetime Mortgage Optional Payment Lifetime Mortgage
A tax-free lump sum Included

A minimum loan of £10,000


A minimum loan of £10,000

Minimum property value £70,000 or £100,000 for flats, maisonettes, ex-council, ex-housing association or ex-Ministry of Defence properties. £70,000 or £100,000 for flats, maisonettes, ex-council, ex-housing association or ex-Ministry of Defence properties.
No affordability checks Included Included
Take additional amounts through drawdown Included Included
Make overpayments or Optional Partial Repayments (OPR's)1 Included Included

Can only be made once your client stopped making the monthly interest payments 

Fixed interest rates
Pay some or all of the monthly interest by Direct Debit Not included Included
Stop making monthly interest payments at any time Not included Included
Compound interest Included Included

By paying some or all of the monthly interest, your client can reduce the overall cost of the lifetime mortgage

Stay in and continue to own their home Included Included
Transfer mortgage when they move home2 Included Included
No Negative Equity Guarantee Included Included
May affect means-tested state benefits Included Included
Inheritance Protection Option (This optional extra allows your client to protect part of the value of their home for inheritance) Included Included

1Subject to terms and conditions.

2Subject to the new property meeting our criteria.



Lifetime Mortgage calculator

Our Lifetime Mortgage calculator helps financial advisers to:

  • Show your clients how much they may be able to release from their home.
  • Demonstrate examples for both taking the maximum available as an initial advance or taking a smaller initial amount where the remainder can be drawn on in the future.
  • Illustrate the effect of our inheritance protection option on the total loan amount available.
  • Explore the impact of house price inflation.
  • Highlight how the interest on their loan increases over time.
  • Create a summary of your client's choices and possible results.

The calculator results are examples only. A lifetime mortgage is a loan secured on your client’s home. It will reduce the value of your client’s estate and may affect their entitlement to means tested state benefits.



We offer a series of CPD accredited events and workshops that support you in understanding the changing face of retirement.

Why choose us

Since our entry into the lifetime mortgage market in 2015, we've been a primary agent of growth and change. Find out why advisers choose Legal & General as a lender.