Your retirement

Lifetime Mortgages

Making the most of the money tied up in your home

We have teamed up with Norwich Union to offer Norwich Union’s Lifetime Mortgages, which allow you to free some of the equity in your home, to spend as you wish. The loan and interest are repaid when the Lifetime Mortgage ends, usually when you die or leave the property because you need long-term care. The best part is that you don’t have to move or give up your keys – you still own, and live in the home you love.

To be eligible for a Norwich Union Lifetime Mortgage, you and your partner must be aged 60 or over and own your home. Substantial early repayment charges may be payable if the loan is repaid for a reason other than death or long-term care needs. Amounts released may affect entitlement to welfare or tax benefits. Minimum property values apply and the Norwich Union Lifetime Mortgage is not available in N Ireland, the Channel Islands or Isle of Man.

There are no monthly repayments to make, the loan and interest are repaid by the sale of your property when you die or go into long-term care. The interest charged throughout the term is calculated on the total of the amount borrowed and the interest already added, which quickly increases the amount you owe. This will reduce the value you have in your property, possibly to nothing, and therefore the amount of any inheritance you leave.

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration. Your personal illustration and full written details are available on request.

If you’d like to find out more - without obligation – call our financial planning managers on
0113 225 7777* , who would be delighted to arrange an appointment to explain it in more detail. Any financial advice given will relate only to the products sold or marketed by the Norwich Union group and Leeds Building Society. Alternatively, you can visit www.leedsbuildingsociety.co.uk/lifetimemortgage for further details.