Why choose Lifestyle Lump Sum Max for your clients?
Our Lifestyle Lump Sum Max is a fixed rate lifetime mortgage that pays a tax-free lump sum (of £15,000 or more) to your client.
Your client continues to own their home, and they can live in it until they die or move into long-term care, subject to our terms and conditions. In the case of joint lifetime mortgages this applies to both partners. Interest builds up through the life of the mortgage and is charged on the amount borrowed and interest already added, which can quickly increase the amount owed. It will also reduce the amount of inheritance they can leave. Your client won't have to pay tax on the amount they release, but it may affect their tax position and eligibility for certain welfare benefits.
Because it’s a one-off lump sum, Lifestyle Lump Sum Max can be particularly suitable if your client has something in mind they need to use the money for – like home improvements, or to give children or grandchildren a helping hand.