Lifetime Mortgages

A lifetime mortgage is a loan secured against your property that allows you to free up some of the wealth you have in your home while you still live there. The loan has an indefinite term, which means you still own your home. Interest can "roll up" on top of the loan, so that you don't have to make any monthly payments. In these cases, the interest and loan are both paid off when the youngest borrower passes away or moves into permanent care, at which point the property is normally sold. Or you can pay the interest each month if you prefer, via vountary repayments.

Lifetime mortgages can be beneficial for a number of reasons, and are often taken out to:

  • Help children or grandchildren to get on the property ladder
  • Make home improvements
  • Repay an existing mortgage
  • Reconcile debts
  • Assist with Inheritance Tax liability planning
  • Increase monthly income
  • Travel and go on holiday
  • Buy a new property to live in

A lifetime mortgage will reduce the value of your estate, will not be suitable for everyone and may affect your entitlement to state benefits. Speak to us to find out if this is the right option for you.

How Much Can I Borrow?

How much can I borrow?

How many people are applying?*

Applicant one

Applicant Two

* If you are looking to borrow with two or more other people, please contact us for specialist advice.


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Stamp Duty Calculator

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Effective Rate

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  • 5 Year Fixed Rate at 1.75%
  • 2 Year Tracker Rate at 1.29%
  • 2 Year Buy to Let Fixed Rate at 1.46%
  • 5 Year Buy to Let Fixed Rate at 1.79%

In addition to some of the headline rates shown here, we have access to a range of bespoke mortgages from private banks and alternative lenders that we can discuss with you personally and confidentially, tailored to you.

Mortgage Rate available to:

Purchases and Remortgages

Initial Rate Payable %

1.75%

Initial Rate Period / Expiry Date

29 September 2024

Reverting to a variable Rate

4.99%

Annual Percentage Rate of Charge (APRC)

3.80%

Loan to Value

60.00%

Lenders Arrangement Fee

£1995.00

Early Repayment Charges (ERCs)

5% to 30/09/2021, 4% to 30/09/2022, 3% to 30/09/2023, 2% to 30/09/2024

Further details and how this example is reached

Property Value

£1,000,000.00

Mortgage Amount

£600,000.00

Term of the Mortgage

25 years

Method of Repayment

Repayment

Monthly payment at Inital Rate Payable

£2,478.97

Number of monthly payments

300

Total Amount Payable

£941,105.91 over 25 years

Mortgage Rate available to:

Purchasers Only

Initial Rate Payable %

1.29%

Initial Rate Period / Expiry Date

29 September 2021

Reverting to a variable Rate

4.24%

Annual Percentage Rate of Charge (APRC)

3.80%

Loan to Value

60.00%

Lenders Arrangement Fee

£999.00

Early Repayment Charges (ERCs)

1.40% of amount repaid until 30/09/2020, 0.8% of amount repaid until 30/09/2021

Further details and how this example is reached

Property Value

£1,000,000.00

Mortgage Amount

£600,000.00

Term of the Mortgage

25 years

Method of Repayment

Repayment

Monthly payment at Inital Rate Payable

£2,344.77

Number of monthly payments

300

Total Amount Payable

£932,179.77 over 25 years

Mortgage Rate available to:

Buy to Let Purchases and Remortgages

Initial Rate Payable %

1.46%

Initial Rate Period / Expiry Date

30 July 2021

Reverting to a variable Rate

5.24

Annual Percentage Rate of Charge (APRC)

4.90%

Loan to Value

60.00%

Lenders Arrangement Fee

£1795.00

Early Repayment Charges (ERCs)

2.00% of the amount repaid until 31/07/2021

Further details and how this example is reached

Property Value

£1,000,000.00

Mortgage Amount

£600,000.00

Term of the Mortgage

25 years

Method of Repayment

Interest Only

Monthly payment at Inital Rate Payable

£732.18

Number of monthly payments

300

Total Amount Payable

£1,347,477.82 over 25 years

Mortgage Rate available to:

Buy to Let Purchases and Remortgages

Initial Rate Payable %

1.79%

Initial Rate Period / Expiry Date

30 July 2024

Reverting to a variable Rate

5.19

Annual Percentage Rate of Charge (APRC)

4.30%

Loan to Value

60.00%

Lenders Arrangement Fee

£2995.00

Early Repayment Charges (ERCs)

5% of amount repaid to 31/07/21, 4% to 31/07/22, 3% to 31/07/23, 2% to 31/07/24

Further details and how this example is reached

Property Value

£1,000,000.00

Mortgage Amount

£600,000.00

Term of the Mortgage

25 years

Method of Repayment

Interest Only

Monthly payment at Inital Rate Payable

£899.48

Number of monthly payments

300

Total Amount Payable

£1,284,773.50 over 25 years

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Disclaimer

Mortgage Advice. The choice of interest rate and product terms will depend on your circumstances and the amount of the mortgage. Before you make a mortgage application, we will carry out a full review to establish your needs and preferences and if you meet the criteria, we will give advice and make a recommendation to you. There may be a fee for mortgage advice. All mortgages are subject to status. Please note that all products show an indicative rate only and may not be suitable for you. You must be 18 or over.

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Your home may be repossessed if you do not keep up with mortgage payments.

Knight Frank Finance LLP is a limited liability partnership registered in England and Wales with registered number OC322399. The principal office of Knight Frank Finance LLP is situated at 55 Baker Street, London W1U 8AN. Knight Frank Finance LLP is authorised and regulated by the Financial Conduct Authority under Financial Services Register number 459093.