Lifetime Mortgages

There are two main types of lifetime mortgages:

Roll-up Lifetime Mortgages

A roll-up lifetime mortgage allows you to borrow money secured against your home.

You receive an agreed sum against the value of your property and interest payments are added each year to the loan.

The total amount repaid to the provider when the property is eventually sold is the initial loan amount plus any accumulated interest.

For most plans the interest rate is fixed and will not change during your lifetime.

Click here to find out more about Lifetime Rollup Mortgages

Fixed Repayment Lifetime Mortgage

With a fixed repayment mortgage, the amount you repay is set from the outset of the plan.

This amount is calculated depending on criteria such as your age, health and property value.

When you, and your partner if part of a couple, have passed on or wish to sell the property, the provider will take the agreed sum from the proceeds of the property sale.

Click here to find out more about Fixed Repayment Lifetime Mortgages

Home Reversion SchemesA home reversion scheme involves you selling part or all of the value of your property to the equity release provider in exchange for a lump sum.

The cash lump sum that you would receive is not a representation of the full market value of the property. This is because you will continue to live in your home with no rent for the duration of your life. The provider will only receive a return on their investment after your death, or when you decide to leave, for example to move into residential care.

If you only sold part of your property to the provider, then after your death the home would be sold and the part you retained will be passed to your estate, the remainder will go to the plan provider.

Click here to find out more about Fixed Repayment Lifetime Mortgages

Implications– Equity release could affect your entitlement to some state benefits and may affect your tax position.

– All equity release plans will reduce the value of your estate.


What are Equity Release Schemes, Lifetime Mortgages and Home Reversion Plans?

Equity release is an agreement between a homeowner (55+) and a provider that allows the homeowner to unlock the money tied up in their home.This money is tax-free and helps the homeowner to enjoy the retirement that they have worked hard for.

If you take out equity release you are still able to carry on living in your home for as long as you like.For many, their home is their greatest asset. Equity release schemes can turn this asset into extra cash at a time when income may be fixed and low.

Please click the link for more information regarding the different types of equity release mortgages.

What are the benefits and implications of equity release and home reversion plans?

1) Retirement can be a time of fixed income and many people have valuable homes but little spare cash. Equity release can provide tax-free cash to help alleviate this problem.

2) You can use the cash you release to spend as you wish.

3) You may want to use the money to take that holiday youve always dreamed of, perhaps visiting family that you havent seen for years.

4) You might want to buy a new, more reliable car to help you get around. You could even use the extra funds to help support your family, children or grandchildren.

5) Many people simply use the money they release to make up the shortfall some people experience when they retire.

6) Equity release could affect your entitlement to some state benefits and may affect your tax position.

7) All equity release plans will reduce the value of your estate.

What is the procedure for equity release?

1. Complete the equity release calculator above, entering all your details. We will then tell you roughly how much equity is available in your property, based on your age, your property value and the maximum amounts offered by the major equity release providers.

2. If this has inspired you to learn more, you can request your no-obligation brochure on equity release. This will provide you with more information on how equity release works, the things you should consider and what to do next if you would like to discuss your options with an equity release specialist.

3. After reading the brochure, if you would like to discuss equity release further, simply contact our trusted partner using the details provided in the brochure.

4. Alternatively call 0800 524 4853 to find out the answers to any questions you may have about the equity release process. It is a free and no obligation service. It can help no matter what stage of enquiry.

Are you still thinking how do I release equity?

What do past visitors have to say about us?


I found your website and your ethos to be just up my street. I particularly like the way you explained SHIP and its relationship to equity release
Mr. Ingrid

Your equity release calculator helped me to understand where I stood and what my options were. The free guide I received helped me to explain what I had learned to my husband so a big thanks is in order.
Mrs. Kinsel

What is the criteria to release equity in the UK?

In order to release equity on a home, the following criteria usually needs to be met:

– To qualify you must be aged 55-95.

– The home in question must be your permanent main residence and lived in by you for over six months of the year.

– You must own the home from which you are releasing equity.

– The home must be worth at least 70,000.

What is the code of conduct for equity release?

An organisation called SHIP are responsible for laying out the code of conduct to the equity release providers in the market.

Independent financial advisers can explain who are SHIP members and which member may offer the plan most suitable to your needs.

Click the link to learn more about SHIP equity release

Contact us via Email

  • Click below to request a callback from one our specialist Equity Release Advisors.

Request A Callback

  • Click below to request a callback from one our specialist Equity Release Advisors.

Responsible Equity Release is a trading style of Responsible Life Limited. Responsible Life Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register ( under reference 610205. Only if you choose to proceed and your case completes will Responsible Life Limited charge an advice fee, currently not exceeding £1,490. A lifetime mortgage may affect the value of your estate and your entitlement to means-tested state benefits. Our adviser will talk you through this and the setting up costs before you make any decision to proceed.

Responsible Life - Your Future, Protected.

Award winning equity release specialists.


0800 652 2955

Head Office

Responsible Life
Mills Bakery, Royal William Yard, Plymouth, PL1 3GE

Opening Times

Monday to Friday
9am to 8pm

9am to 5pm

Equity Release Awards - Finalist for Best Mortgage Adviser 2018

Copyright © Responsible Life Limited 2021. All Rights Reserved.