Lifetime Mortgage

If you're over 60 and you're looking for extra money to enhance your lifestyle, our Lifetime Mortgage (equity release) could be the answer. By borrowing against the equity in your home, you can release extra cash to boost your income or give you a lump sum that can make a real difference to your life - without having to move or sell your home.

There are no monthly repayments to make - the interest is added to the loan and the whole amount is repaid when you die or move into long-term care, usually from the sale of the house. This means more interest will build up than with a conventional mortgage, but as the interest rate is fixed for life you'll always know the rate you're paying.

You can take the money as a one-off lump sum, regular monthly amounts or a mix of both.
You'll still own your home and there are no monthly repayments to make.
Your estate will never be left in debt - even if house prices fall, we guarantee your estate will not have to pay back more than your home is worth (providing the mortgage conditions have been met).
You can set aside a percentage of your property's value to leave as an inheritance. As long as the mortgage conditions have been met, this amount won't be touched when the mortgage is repaid. Choosing this option will affect the maximum amount you can borrow.

Our Lifetime Mortgage is available to anyone aged 60 or over, who owns a property that is:

worth £70,000 or more
their main residence
located in England, Scotland or Wales
freehold, leasehold or ownership (if it's in Scotland).

Check out the Key things to consider and Frequently asked questions - these could help you decide whether a Lifetime Mortgage might be suitable for you. You will need to take independent legal advice and we recommend you discuss everything with your family before making a decision.

For a quick idea of the maximum we could lend you (as a percentage of your property's value), take a look at How much could NatWest lend me?

You may also like to look at Personal Finance and Property journalist Laura Brady's independent Guide to equity release.

Please read this important legal information

Ways to apply

To arrange an appointment with a Lifetime Mortgage Consultant:

Email us

Call us on
0845 877 6000

Minicom
0845 900 5961

Monday to Friday 9am-5pm Calls may be recorded.
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THIS IS A LIFETIME MORTGAGE. TO UNDERSTAND THE FEATURES AND RISKS, ASK FOR A PERSONALISED ILLUSTRATION

Lifetime Mortgage

Interest Rate	Until	Overall cost for comparison	Minimum borrowing	Monthly payments	Early repayment charge
6.79%
	Fixed for the life of the mortgage	7.2% APR (lump sum) 7.4% APR (regular monthly amounts) 7.3% APR (mix of both)	£10,000	No monthly repayments	Years 1-3 : 5% Years 4-6 : 4% Years 7-8 : 3% Years 9-10 : 2%
	There are a number of costs involved in setting up a Lifetime Mortgage, including a £599 application fee. See our fees table for more details. How much you can borrow depends on your property value and the age of the youngest applicant. Our Lifetime Mortgage Consultant can work this out for you. We will apply an early repayment charge if you voluntarily repay in full within the first 10 years. This won't apply if the loan is repaid because you die or have to move into long-term care, or if you only repay part of it. Releasing equity will reduce the value of your estate and impact on any inheritance you might want to leave. The loan is secured against your home.

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