Prestige Options

Our Prestige Options have been designed with high net worth customers in mind. They provide your customer with a one-off cash lump sum, which is tax-free. They are available for customers with properties valued between £500,000 and £6 million, and offer certainty and peace of mind.

  • 10 year fixed early repayment charges.
  • Inheritance guarantee.
  • Cash reserve facility.
  • Free valuation, with no cap.

You can find out more about our product features in our Prestige At a Glance guide.

  • Your customer can release between £250,000 and £2 million.
  • The interest rate is fixed from the outset.
  • The interest rate applied to any additional borrowing may be higher or lower than the interest rate applied to the initial advance.
  • This is an interest roll-up lifetime mortgage. No interest payments are due, instead it is added to the outstanding loan balance.

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 further advance interest rates and LTVs.

"We've got a property worth £6 million, and we want to use it to gift money to our family without making monthly payments"

Read Yvonne and Richard's story

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...

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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 and regulated by the Financial Conduct Authority.