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: 85
Property Location England, Wales and Scotland
Property Value Minimum Property Value: Minimum Property Value: £70,000 (£100,000 if Super Max Plus product, or if ex-council or ex-MOD property)
Max Property Value: No maximum. Properties over £2 million are to be referred to Pure Retirement
Loan Size Minimum Loan Size: £10,000 (£20,000 if fees package product)
Max Loan Size: £1 million for Heritage Max. £800,000 for all other products
Drawdown Facility Both lump sum and drawdown products are available
Minimum Drawdown Facility: £5,000
Maximum Drawdown Facility: £200,000
Cashback Up to 5.5% cashback options available with fees package products
Partial Repayments Up to 6 payments can be made of up to 10% of the advance amount per year ERC free. The minimum partial repayment amount is £500. For Heritage Freedom products, up to 12 payments can be made totalling up to 20% or 40% of the advance amount per year ERC free
Loan to Values (LTVs) Maximum LTV: 57.00% at age 85
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

Heritage Bitesize Overview

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