We have rebranded Retirement Advantage products as Canada Life. Visit our Retirement Account and Home Finance pages.
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Capital Select Options

Our Capital Select Options have been designed to offer your customers increased flexibility and certainty. These Options allow your customer to make a voluntary contribution of their choosing each year, without facing an early repayment charge.

Customers can:

  • Make a contribution of up to 10% of the initial loan amount each year, with no penalty. 
  • Make an unlimited number of voluntary contributions, with a minimum contribution amount of £50.
  • Start their contributions immediately after completion.
  • Make contributions by cheque, BACs transfer, debit card or standing order.
  • 8 year fixed early repayment charges.
  • Downsizing protection.
  • Early repayment waiver.
  • Inheritance guarantee.
  • Cash reserve facility.
  • Free valuation, with no cap.


You can find out more about our product features in our Capital Select At a Glance guide

  • Your customer can release between £10,000 and £1 million
  • The interest rate applied to any additional borrowing may be higher or lower than the interest rate applied to the initial advance.
  • This is a capital and interest paying lifetime mortgage;
    • Your customer's annual voluntary repayment allowance is renewed on the anniversary of the completion date.
    • There are no penalties if no contributions are made in a year, and it does not affect the future annual allowances
    • Voluntary contributions can be made on additional borrowing.

These options provide a number of features and benefits, but as with all equity release products you and your customer will need to consider how the product will meet their needs and circumstances.

Benefits of a lifetime mortgage:

  • Your customer can remain in their home for the rest of their life.
  • The money your customer releases is tax free.
  • The ‘No Negative Equity Guarantee’ means that your customer will never owe more than the value of their property.


Potential risks of a lifetime mortgage:

  • Taking out a lifetime mortgage may affect your customer’s entitlement to state benefits and grants.
  • A lifetime mortgage may reduce the size of your customer’s estate.
  • A lifetime mortgage is a significant financial decision, not for short-term financial needs.
  • A lifetime mortgage may work out to be more expensive in the long-term than downsizing.

Click here to view our initial advance, cash reserve facility and additional borrowing interest rates and LTVs.

You can log-in to our straightforward and easy to use KFI generator and online application system to generate a quote or submit your customer’s application to us.

Log in to our KFI generator and online application system here.

Not registered with us? Find our registration forms in the Home Finance IFA Zone.

Interested in more? Why not look at…

Lifetime Mortgages

Help your clients unlock the wealth stored in their property

Lifetime Mortgages

Buy-to-Let Mortgages

Your Landlord clients can release wealth from their property tax free, leaving their portfolio intact 

Buy-to-Let Mortgages

This website is for UK professional advisers only and is not approved for use by private customers.

Canada Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Canada Life International Limited and CLI Institutional Limited are Isle of Man registered companies authorised and regulated by the Isle of Man Financial Services Authority.

Canada Life International Assurance (Ireland) DAC is authorised and regulated by the Central Bank of Ireland.

Stonehaven UK Limited and MGM Advantage Life Limited, trading as Canada Life, are subsidiaries of The Canada Life Group (U.K.) Limited. Stonehaven UK Ltd is authorised and regulated by the Financial Conduct Authority. MGM Advantage Life Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority.