Home Finance Product Lifetime Mortgages Freedom2 1360X784

Lifetime Mortgages

Unlock the value of your home

Unlock the value of your home with our flexible range of lifetime mortgages. Our lifetime mortgages are a type of equity release that lets you release tax-free cash from your property value. You’ll get a long-term loan that’s designed to last for the rest of your life, giving you real peace of mind.

Products we offer

Capital Select Options

Our flexible lifetime mortgages

  • Choose to repay up to 10% each year
  • Make repayments when it suits you
  • Add a cash reserve to access money later
  • Optional 3% cashback
Learn more

Interest Select Options

Manage the interest on your loan

  • Limit the impact of interest on your loan
  • Pay from 50% to all of the interest each month
  • Add a cash reserve to access money later
Learn more

Lifestyle Options

Make the most of your retirement

  • No monthly repayments needed
  • Add a cash reserve to access money later
  • Free inheritance guarantee available
  • Fixed early repayment charges
Learn more

Second Home Options

Unlock cash from your second home

  • Make voluntary payments if it suits you
  • Free valuations on your second home
  • Options to borrow more money
  • No affordability checks needed
Learn more

Prestige Options

Release more money with no payments

  • No monthly payments
  • Option to add a cash reserve facility
  • Borrow up to £2 million
Learn more

Here's what you'll get with Canada Life:

£0 completion fee on our Capital Select Options

We’ve waived the completion fee on our Capital Select Options until 30 September 2020.

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Second Home Options

Find out how to make the most out of your retirement and unlock money from your second home.

Learn more

Why choose Canada Life?

Wards
Award-winning range of products
Home
Market-leading expertise and customer service
Bank
Part of Great-West Lifeco with over £987bn in assets (as at 30 June 2020)
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Learn more about home finance

Equity release explained
Understand how equity release works

Our eligibility
Find out if you’re eligible for home finance

Taking out a mortgage
Understand how to take out a mortgage with us

Risk warning

A lifetime mortgage is a loan secured against your home. It will reduce the amount of inheritance you leave and may affect your tax position and entitlement to welfare benefits.

Next steps

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Find an adviser

Get a tailored quote for this product from a financial adviser. To find one, visit the Equity Release Council.

Find an adviser
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Customer support

Find answers to commonly asked questions, helpful links, tools and contact details.

Customer support
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Get in touch

Call customer services

0800 068 0212

or send an email

Monday – Friday 9am to 5pm

Other contacts