Papilio UK Equity Release Mortgages Ltd – Formerly Northern Rock


If you took out an equity release plan with Northern Rock, you may be aware that they are no longer active in the market. The Great Recession of 2008-2011, unfortunately, took its toll on Northern Rock and they eventually became nationalised before being sold to Virgin Money.

Fortunately for owners of a Northern Rock lifetime mortgage, the plans were sold to JP Morgan and are now managed by Papilio UK Equity Release Mortgages Ltd. Unlike a savings account held with a bank, a lifetime mortgage doesn’t come with monthly repayments so if there is a problem with the provider the terms of the lifetime mortgage will be honoured.

The only exceptions to this rule of thumb are further advances in the future or where you had a drawdown plan, basically anywhere you need to take more money. This can cause a problem if you wanted to top up your plan with some more cash. Papilio UK, who now manages the Northern Rock plans are now offering to waive early redemption charges that may have applied. This means there is no better time to see if you can switch your plan to an active lender, such as Just Retirement, Aviva or Liverpool Victoria.

We are able to conduct a free, no-obligation health check for Papilio UK customers to see if we can:

A. Move you to a better interest rate. Rates have dropped substantially since Northern Rock provided equity release mortgages.

B. Allow you to take more money from an equity release plan

C. Give you the peace of mind knowing that you are with a lender committed to this market.

Phone us on 0800 012 4180 or 01752 229 214 quoting Papilio2 for your free lifetime mortgage health check.

Read more on our page dedicated to Papilio UK Equity Release Mortgages Ltd


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.

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