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Capital Select Options

A flexible way to unlock money from your home

Make the most of your retirement by unlocking tax-free cash from your home. Our Capital Select Options give you the flexibility to make repayments when it suits you. You can choose to repay up to 10% of your loan each year and there’s no penalty if you decide not to make repayments.

Are Capital Select Options right for you?

Choose to repay up to 10% each year
Enjoy a one-off, tax-free cash payment
Add a cash reserve to access money later

What are the risks?

  • A lifetime mortgage is a loan secured against your home and subject to compound interest, meaning the amount you owe can grow quickly
  • Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits
  • Equity release may leave you with limited or no property equity remaining
  • Equity release will reduce your financial options in the future
  • A lifetime mortgage is a long-term financial product and is not designed to be fully repaid until the death or entry into long-term care of the last remaining borrower, otherwise early repayment charges may apply
  • You should always think carefully before securing a loan against your home to repay existing debt

Is Equity Release right for me?

Is Equity Release right for me?

  • Tax-free cash

    When you release equity with one of our Lifetime Mortgages, you can take a lump sum in one go or as a series of smaller lump sums when it suits you.

     

  • Spend it how you want

    You can use the money you release for home improvements, helping children buy their first property or increase your income in retirement. It's up to you.

  • Nothing to repay

    Unless you choose otherwise, there's nothing to repay until you die or move permanently into long-term care.

  • Flexible repayments

    If you prefer, there's an option to repay some or all of the interest. You can also choose to repay part of the original loan.

  • Stay in your home

    With equity release, you don't need to downsize and can stay in your home until you die or move permanently into long-term care.

  • You can still move house

    So long as the new property is acceptable to us.

  • Inheritance protection

    Part of the value of your home can be passed on if you choose our Inheritance Protection option.

  • No negative equity guarantee

    Whatever happens you'll never repay more than the value of your home when it is sold - even if that's less than the amount owing. Subject to terms and conditions.

Equity Release may not be appropriate:

  • The interest can build up quickly

    Any unpaid interest can rapidly build up over time. There may be cheaper ways to borrow money.

  • Reduced inheritance

    Even with our Inheritance Protection option, releasing equity with a lifetime mortgage will reduce how much you can leave as an inheritance.

  • Inheritance tax

    If you gift the money, the recipient may need to pay inheritance tax in the future.

  • Early Repayment Charge

    If you choose to repay all or a significant part of the loan early, there may be an Early Repayment Charge.

  • Means-tested state benefits

    If you're receiving certain means-tested state benefits, taking a lifetime mortgage could impact your entitlement to these benefits.

  • Higher interest rates

    Usually the interest rates for a lifetime mortgage are higher than the rates charged for a traditional mortgage.

  • Repaying an existing mortgage

    You may have to pay an Early Repayment Charge to your existing mortgage

Customer documents

Find an adviser

If you are considering a lifetime mortgage, it is a Financial Conduct Authority regulation that you first seek advice from a qualified equity release adviser, who will help you understand your options and advise on what is right for you. To find one, visit the Equity Release Council.

Find an adviser

Frequently asked questions