Flexible Mortgage

With a Flexible Mortgage Option, a lifetime mortgage is secured on your home and is repayable from the proceeds of the sale of your home.

As well as an initial lump sum, it provides a pre-approved Cash Reserve facility, from which you may make further withdrawals.

Typical limitations are: The initial lump sum must normally be at least 15% of the total facility (minimum £10,000). Subject to eligibility, the maximum initial amount available is £250,000. Future withdrawals of at least £2,000 may be made from the Cash Reserve at any time between the first and tenth anniversary of the plan, until the whole facility has been drawn. These can vary between lenders.