Lifetime mortgages

No. The terms and conditions of your lifetime mortgage require you to live in the property. If you want to rent out the property, you’ll need to repay the outstanding mortgage balance.

Your lifetime mortgage has a ‘No Negative Equity Guarantee’.  This means that if the sale price isn’t enough to pay off the outstanding balance, we won’t ask for the difference to be paid (known as a ‘shortfall’). If you’re worried that the sale price of your property won’t be enough to pay off your lifetime …