How much can I borrow?
Published 18/03/2016 11.42 AM | Updated 01/11/2017 01.05 AM
The maximum you can borrow depends on your age and the value of your property. With LV= Lump Sum+, this ranges from 25% of the value of your property if you are 60, to 55% if you are 90-95. With an LV= Flexible Lifetime Mortgage, this ranges from 20% of your property value if you are 60, to 50% if you are 90-95. You can either borrow a lump sum as a one-off payment or you can choose to borrow a smaller amount initially and agree a maximum loan with us, which you can draw on from time to time over a 15-year period. This way you'll only be borrowing, and therefore paying interest on, the amount you actually need.
Did we answer your question?