Customers can enjoy high LTVs and the option of 4% cashback on the Emerald range via a personalised quote depending on the client's exact borrowing requirements. Up to 12% ERC-free partial repayments can be made via Direct Debits with the security of fixed ERCs.
No negative equity guarantee
Downsizing protection
ERC free repayments
Partial repayments
Fixed ERCs
Cashback available
Direct Debits
| Criteria | Information |
|---|---|
| Personalised Quote | Customers will recieve a unique quote based on their loan amount, age, property value, property type and location. Log into our KFI Portal to get an exact quote for your customer. |
| Age limits | Minimum Age: 55 Maximum Age: 95 |
| Property Location | England, Wales and Mainland Scotland |
| Property Value | Minimum Property Value: £120,000 (£150,000 if ex-local authority) Max Property Value: £2 million in England (£1 million in Scotland and Wales) |
| Loan Size | Minimum Loan Size: £10,000 (cashback products £20,000) Max Loan Size: £950,000 |
| Drawdown Facility | Both lump sum and drawdown products are available Minimum Drawdown Facility: No minimum Maximum Drawdown Facility: Dependent on the maximum loan-to-value for the customer Minimum release from drawdown facility: £500 |
| Cashback | 4% cashback of the initial loan amount is available on selected products |
| Partial Repayments | Up to 12 payments can be made up to 12% of the advance amount per year early repayment charge (ERC) free. The minimum partial repayment amount is £50. |
| Loan to Values (LTVs) | Maximum LTV is 29.50% - 57.50% depending on age |
| Early Repayment Charges (ERCs) | Early Repayment Charges are fixed. For more details, please see the ERC guide. |
| Set up Costs | For set-up costs please see the Tariff of Charges. |
| Porting | The lifetime mortgage can be transferred to a new property, subject to it meeting lending criteria at the time. |
| Downsizing ERC Exemption | If the intial advance has completed over 5 years ago and the new property does not meet the prevailing lending criteria, then the borrower(s) may repay the entire loan ERC-free. |
| Direct Debits | Monthly Direct Debits of a regular amount can be set up for partial repayments on these products.  |
Full Emerald Treasure Hunt Terms and Conditions can be found here.
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