It’s not a requirement for you to make repayments on your Standard Life Home Finance Horizon lifetime mortgage, as the loan plus roll-up interest is usually repaid when the plan comes to an end, however you do have the option to do so if you wish. Making repayments can help to reduce your total cost of borrowing, which could allow you to pass on a greater inheritance to your beneficiaries.

If you choose to make repayments, you’re in control of how much and how often you pay, with the minimum repayment being £50. This can be done through making either ad-hoc or regular repayments. However, please note that you can only repay up to 10% of the original release amount every year without incurring early repayment charges (ERCs).

Set up a standing order

By setting up a standing order you can make regular repayments without the fuss. To set up a standing order, please let us know by emailing [email protected] with your account reference number and name.

If you use online banking, your bank will be able to set up your standing order online without needing to be sent any paperwork from yourself. If you don’t use online banking, we’ll be in touch to first confirm your identity and arrange for you to receive a standing order mandate for you to fill out and send to your bank.

Set up a standing order

Make an ad-hoc repayment

If you wish to make a one-off repayment without setting up a standing order, you can do so by emailing a member of our team on [email protected] or calling 0800 188 4815 and referencing your account number and name.

Please note that before we can accept a one-off repayment from yourself, we’ll first need to confirm your identity over the phone.

Make a repayment

Make a repayment on behalf of someone else

Only someone with a Lasting Power of Attorney can make a repayment or set up a standing order on behalf of someone else. And we’ll also need to confirm their identity beforehand.

If you wish to make a repayment on behalf of someone else, please email [email protected] or call 0800 188 4815 with proof of Lasting Power of Attorney or a Letter of Authority, and certified identification. A member of our customer service team will then be in touch.

Make a repayment on behalf of someone

Want to know more?

Speak with a member of the Standard Life Home Finance team and find out more about our lifetime mortgages.