Heritage Product Range in Detail

Customers can enjoy the flexibility of our Heritage Lifetime Mortgages. ERC-free early repayment options available, customers can also choose between Fixed and GILT Early Repayment Charges, and there is no maximum property value.

  • No negative equity guarantee
  • ERC free repayments
  • Porting available
  • Cashback Available
  • Fixed ERCs
  • Variable ERCs
  • Drawdown facility

Conditions and Details

Criteria Information
Age limits Minimum Age: 55
Maximum Age: No maximum
Property Location England, Wales and Scotland
Property Value Minimum Property Value: £70,000
Max Property Value: No maximum. Properties over £2 million are to be referred to Pure Retirement
Loan Size Minimum Loan Size: £10,000 (For fees package, minimum £20,000)
Max Loan Size: £800,000
Drawdown Facility Both lump sum and drawdown products are available
Minimum Drawdown Facility: £5,000
Maximum Drawdown Facility: £200,000
Drawdown facility not available for Elite Range
Cashback 2% cashback of the initial loan is available for the fees package
Partial Repayments Up to 6 payments can be made of up to 10% of the advance amount per year early repayment charge (ERC)-free. The minimum partial repayment is £500. For the Heritage Freedom 40 products, up to 12 payments can be made of up to 40% of the advance amount per year ERC-free
Loan to Values (LTVs) Minimum LTV: 22.45% at age 55
Maximum LTV: 54.6% at age 85 and above
Early Repayment Charges (ERCs) A choice of Fixed and GILT ERCs are available 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 There is no downsizing ERC exemption covered in the Heritage plans

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