What is a 'no negative equity' guarantee?
Published 18/03/2016 11.42 AM | Updated 07/06/2017 09.09 AM
Even if the value of your home ends up less than the amount you owe, you can be sure that neither you nor your estate will be left owing any money to repay the lifetime mortgage after your house has been sold on your death or on your entry into permanent residential long-term care. When the house is sold it's important to involve us at the earliest opportunity so we can help make sure everything goes smoothly. One of things we'll do is agree a reasonable sale price for the property. This is important as the no negative equity guarantee depends on the property being sold for a reasonable price agreed by one of our professional valuers.
Did we answer your question?