Can I Get a Lifetime Mortgage?(Learn How With A Top Tips for 2023)

Get your free calculation...


Author Paul Murphy

April 2023


How Do I Apply For A Lifetime Equity Release Mortgage?


A lifetime mortgage provides  homeowners with the facility to release equity from their property to help finance retirement and to achieve financial goals. 

To get a lifetime mortgage, you will need to follow the following steps. 

Later Life Finance provide a complete start to finish broker service to manage the entire process and ensure you access to most suitable terms available for your specific needs. 


  1. Find a reputable lender: Research different lenders who offer lifetime mortgages and compare their terms and interest rates. Look for lenders who are members of the Equity Release Council, as they are committed to following certain standards and protections for borrowers

  2. Complete the application process: If you decide to proceed with a lifetime mortgage, you will need to complete the application process, including providing documentation such as proof of identity.  The amount you can borrow through a lifetime mortgage will depend on the value of your property, so you will need to have your property valued by a qualified surveyor. The lifetime mortgage lenders typically provide a free valuation as part of the application process.

  3. Seek independent financial advice: Before applying for a lifetime mortgage, it is recommended that you seek independent financial advice from a qualified equity release adviser. They can help you determine whether a lifetime mortgage is the right option for your individual circumstances and advise you on the potential risks and costs involved . Later Life Finance are members of the equity release council and provide a complete broker service to ensure you find the best deal for you.

  4. Receive the funds: Once your application has been approved, the lender will release the funds to you in a lump sum or on a drawdown basis, depending on your preference.

 Later Life Finance provides a complete start to finish broker service and manage the entire process for our clients. Get in touch on 0800 2465228 for expert advice today. 
best company equity release to buy a new home with a lifetime mortgage

Who is the Best Company for Equity Release? (Banks and providers in 2023)

Retired family couple reviewing Equity Release lifetime Mortgage Deals

Updated April 2023

Author Paul Murphy

As interest in equity release increases, homeowners are keen to understand which banks offer lifetime mortgages and how to access the best deals. 

Not everyone has a full understanding of what equity release is and how to find a company suitable for your needs.

Below we discuss in detail how to find the best company for your equity release needs in 2023.


What Happens When Your Interest-Only Mortgage Ends?

When your mortgage term is ending, your current mortgage lender will require a repayment plan. Assuming there are no repayment methods available, firstly, they will discuss the option of converting your lending to a repayment mortgage, however this option can prove expensive compared with interest mortgage payments.

Secondly, mortgage lenders will ask you whether you have considered downsizing, and thirdly they may suggest considering a later life mortgage, such as a lifetime mortgage.

Leave a Reply

Your email address will not be published. Required fields are marked *