Welcome to Standard Life Home Finance

What to consider before taking out a lifetime mortgage

When considering equity release, we want you to be aware of the benefits and drawbacks before making a decision.​​

• You can unlock cash from your home, tax-free, to help meet your needs in later life
• You’ll always retain full ownership of your home and can stay in it for as long as you wish with a Horizon lifetime mortgage
• You can choose to make reduced or no monthly repayments to suit your circumstances with a Horizon lifetime mortgage, subject to criteria. Or with a Horizon interest reward lifetime mortgage you'll be rewarded with a discounted interest rate by paying off some or all of the interest each month. Subject to criteria
• You’ll never owe more than your home’s worth with a Horizon lifetime mortgage
• You may be able to remortgage your plan in the future to release further funds or secure a better interest rate, although this isn’t guaranteed and may be subject to early repayment charges

• A lifetime mortgage is a loan secured against your home and subject to compound interest, meaning the amount you owe can grow quickly
• Equity release will reduce your estate’s value and may affect your entitlement to means-tested benefits
• A lifetime mortgage may result in limited or no property equity remaining and will reduce your financial options in the future
• You should always think carefully before securing a loan against your home to repay existing debt 
• The loan, plus compound interest, is typically repaid through the sale of the property when the last remaining applicant passes away or moves into long-term care
• The Modern Lending Advisers fee of £599 is only payable on completion. All their equity release advice relates to Standard Life Home Finance's Horizon lifetime mortgages
• A lifetime mortgage is a long-term financial product and is not designed to be fully repaid until the death or entry into long-term care of the last remaining borrower, otherwise early repayment charges may apply