David Allan

Expertly compared by David Allan

Products Updated March 17, 2018

Roll-up Lifetime Mortgages

Want to release equity tied up in your home? Our experts can quickly find the best solution that meets your needs. Find out how much you can get and get the best advice on what solutions are available to you.

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Rated 5/ 5

Age Partnership Why?
Why?

This provider is our Expert’s Choice in its category as it won tops marks for the following.

  • TRUST
  • VALUE
  • EXPERTISE & KNOWLEDGE
  • CUSTOMER SERVICE

Learn more about how we review and assess the providers here on Lending Expert.

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Compares Equity
Release Marketplace

Proud to have provided over 10 years of award-winning retirement income services. Don't miss out on unlocking tax-free cash from your home. Apply with Age Partnership to use their free equity release calculator.

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Rated 5/ 5

Key Retirement

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Compares Equity
Release Marketplace

Our Lowest Rate Promise is designed to find you the lowest applicable equity release rate on the market. If we cannot beat or match the rate from another provider we will pay you £500!

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Rated 4/ 5

Aviva

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Equity Release
& Lifetime Mortgages

Equity release is a way of supporting yourself later in life by unlocking tax-free cash from the value of your home, without having to move out. Request a quote today via our approved advisors

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Rated 4/ 5

Pure Retirement

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Equity Release
& Lifetime Mortgages

Pure Retirement was founded on the belief that everyone deserves to enjoy their later years. As recent winners of the Moneyfacts Age award for Equity Release Lender of the Year, they provide a simple and straightforward solution for accessing the value tied up in your home.

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Rated 4/ 5

Liverpool Victoria

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Equity Release
& Lifetime Mortgages

Equity release from LV lets you release tax-free cash from your home, without having to move, which you can then spend on your garden or home, on a holiday, to treat family or friends or to make your retirement more comfortable.

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Rated 4/ 5

Legal & General

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& Lifetime Mortgages

A Legal & General Lifetime Mortgage allows homeowners who are over 55 and have a property worth at least £100,000 (£150,000 for ex-council properties) to release cash from their home.

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Rated 4/ 5

Bath Building Society

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Equity Release
& Lifetime Mortgages

Our Retirement Mortgages are aimed to meet the needs of older borrowers who are either looking to release equity, remortgage with us because your current lender has an age limit or move home. The Society can lend a minimum of £50,000 and up to a maximum of £200,000.

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Rated 4/ 5

One Family

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& Lifetime Mortgages

OneFamily Lifetime Mortgages enable you to borrow a one-off lump sum, and then choose whether you want to make monthly interest payments, a more flexible arrangement of one-off voluntary payments, or no payments at all.

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Rated 4/ 5

Hodge Lifetime

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Equity Release
& Lifetime Mortgages

Hodge Lifetime launched the first equity release plan in 1965, and is the longest established equity release provider in the UK. Its products are provided by Julian Hodge Bank Limited. The 55+ Mortgage has been designed specifically with the older borrower in mind.

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Rated 4/ 5

Just Retirement

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Lifetime Mortgages
Home Reversion Schemes

There are two main types of equity release product: lifetime mortgages, which are mortgages that are secured against your home; and home reversion plans, where you sell all or part of your property to a reversion company in exchange for money. Request a quote via our approved advisors

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Rated 4/ 5

Canada Life

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Equity Release
& Lifetime Mortgages

Equity release is a way of supporting yourself later in life by unlocking tax-free cash from the value of your home, without having to move out. Request a quote today via our approved advisors

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Rated 4/ 5

Prudential

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Equity Release
& Lifetime Mortgages

Equity release is a way of supporting yourself later in life by unlocking tax-free cash from the value of your home, without having to move out. Request a quote today via our approved advisors.

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Rated 4/ 5

More 2 Life

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& Lifetime Mortgages

more 2 life provides a wide range of lending solutions for the over 55s. They work exclusively with qualified advisers and their lifetime mortgage plans help customers release cash from their homes to help deliver a more comfortable and flexible retirement.

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Rated 4/ 5

Retirement Advantage

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Equity Release
& Lifetime Mortgages

As part of Canada Life, Retirement Advantage has more capability than ever before to help customers feel better equipped to make the most of their retirement. Request a quote via our approved advisors

 

FAQ's

what is a Roll-up lifetime mortgage?

A rollup lifetime mortgage is a type of lifetime mortgage whereby the interest element is rolled up (compounded) and is to be repaid at the end of the scheme. The benefit to this type of lifetime mortgage is that you don’t need to make any interest repayments during the lifetime of the mortgage. A roll-up lifetime mortgage is popular for those who are 55 or over and wish to maximise the amount of money they have to enjoy and don’t wish to have any further expenses into retirement or later life.

The interest that has accrued over the period and the principle loan amount is ultimately paid from the proceeds of your house sale when you die or go into long term care.

It is important to consider that the overall debt interest at the end of the scheme will be significantly greater with a roll-up mortgage when compared to a interest only lifetime mortgage whereby a monthly contribution is made towards the interest element.

What are the disadvantages?

  • The amount available under the scheme is likely to be less than the amount achievable with a home reversion plan.
  • The amount you leave behind to your children or beneficiaries will be significantly less.
  • If you wish to repay the plan earlier than anticipated there is likely to be early repayment penalties.

What are the advantages?

  • No interest repayments to make for the lifetime of the mortgage.
  • Available to applicants who are 55 or over.
  • The money received from a rollup lifetime mortgage is free of tax and you can spend the money as you wish.
  • Live in your home as normal for the rest of your life.
  • Has a no negative equity guarantee which means the debt will never be more that the value of your home. This benefits your children or any beneficiaries to your estate after you die.

Where can I get further advice?

If you are interested in a roll-up lifetime mortgage or any type of equity release solution then our regulated lifetime mortgage experts can help. They can offer independent advice and guidance on what options are available to you and how much equity you would be able to release. Our experts are regulated by the Financial Conduct Authority and are members of the Equity Release Council and abide strictly by their code of conduct.

We are independently reviewed by our verified customers and web users:
Rating: 4.6 / 5 with 27 votes

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