Eligibility

• Homeowner(s) with a minimum property valuation of £70,000
• Maximum acceptable property valuation is £1.75m
• Property located in England, Wales and Scotland
• Minimum age of youngest homeowner is 55, maximum age 100
• Minimum loan of £10,000, maximum £500,000
• No CCJ’s permitted

Features

• Fixed lifetime interest rate
• Voluntary Payments of upto 10% per annum permitted with NO penalty
• Payments can start day 1 & made by cheque, debit card, standing order or bank transfer
• Flexible payments starting from £25 creates control over future balance
• Designed to provide a single lump sum with a lower interest rate
• No negative equity guarantee – can never leave a debt for your beneficiaries
• Downsizing Protection – downsize after 5 years & repay with NO penalty
• Fixed early repayment charges over 10 years – 6% for 5 yrs, 3% for 5yrs, then none after 10 years

Options

• Choice of ‘Lite’ or ‘Standard’ plans
• Lite option has lower interest rate & lower LTV
• Standard option has higher interest rate & higher max LTV’s
• Additional borrowing after 6 months – minimum £4,000

Target Market

Clients who:



• Wish for a single lump sum amount
• Are concerned about the future balance & how much it can erode their inheritance
• Feel repaying some, all or more of the interest is their best option
• Looking to clear debts or mortgages, before or into retirement
• Want to manage payments like a mortgage but cannot prove their income
• Have a lower attitude to risk & want security of future balance

*Free valuation offer on property valuations upto £1m (pro-rata thereafter) & for limited time only