Nationwide Lifetime Mortgages

• Fixed for life at 4.71% with Nationwide Lifetime Mortgages
• No fees payable to brokers or advisers
• You’re free to make monthly payments if you wish
• Early repayment charges do not apply
• Free valuation included with your application
• A mortgage designed to last throughout your lifetime

To explore whether a Nationwide Lifetime Mortgage is suitable for you, please complete the form below:

Nationwide Lifetime Mortgages Explained in Simple Terms

A Nationwide lifetime mortgage is a popular type of solution for homeowners aged 55 or over who want to unlock the value in their house without selling it. It allows you to access a cash lump sum or draw down funds over time, using a mortgage secured against your home. To be eligible, your property usually needs to be worth at least £70,000 and of a suitable construction type.

This form of home finance provides flexibility and choice. Some plans are structured as lump sum mortgages, while others offer drawdown options. You can choose whether to make repayments or opt for releasing equity without repayments, with the loan repaid when you die or move into long term care. As with any financial product, it’s essential to understand the fees involved, including legal and arrangement charges, and how your property value affects the amount available.

A lifetime mortgage can also affect your estate and any future inheritance for your children. The release of equity may reduce the value of your estate and could influence your exposure to inheritance tax. These are essential considerations when deciding whether a lifetime mortgage is right for you.

Before starting an application, it’s recommended to speak with an adviser who can guide you through the range of available options and answer all your questions. Many people find it helpful to consider their decision as part of a series of discussions with family and professionals.

If you’d like personal support or need further clarity, you can request a call back to speak with an expert who can walk you through your options and help you explore the right path based on your needs and goals.

Can You Get a Lifetime Mortgage with an Existing Mortgage?

Yes, it is possible to take out a lifetime mortgage even if you have an existing mortgage on your home. In fact, one of the most common uses of equity release is to repay the outstanding balance on a standard residential mortgage. This approach can provide valuable help to homeowners approaching retirement who want to remove monthly repayments and access additional funds for home improvements or other purposes.

To qualify, you’ll need to meet the eligibility details set by the provider, which usually include being over 55 and having sufficient equity in your home. The loan amount you can release will depend on the value of your home, your age, and the specific conditions of the plan. A regulated equity release adviser will assess your situation and provide a personalised recommendation to help you choose a product that suits your goals.

Many plans now offer added flexibility, including No early repayment charges and options for inheritance protection, which allows you to ring-fence a portion of your property’s value for your loved ones. This is particularly important if you’re concerned about leaving something behind after the sale of the home or planning for the rest of your financial life.

A lifetime mortgage can also serve as a downsizing alternative, helping you remain in your current home while still accessing the funds you need. Plans are regulated by the Financial Conduct Authority and all reputable providers are committed to transparency and consumer protection. Some advisers operate on a no advice fee basis, offering you professional guidance at no upfront cost.

Every decision should be made with care, and it’s essential to review all available options with the support of a qualified adviser who understands the intricacies of equity release. If you’re unsure where to begin, a trusted adviser can guide you through the available options, making the process straightforward and stress-free.

Loan-to-Value Explained for Nationwide Lifetime Mortgages

When considering an equity release plan, understanding loan-to-value (LTV) is key to making informed decisions. LTV refers to the percentage of your property’s value that you can release through a loan secured against your home. The actual percentage available depends on a range of factors, including your age, health, the interest rate, and the specific plans offered by the lender.

Typically, the older you are, the higher the LTV available. This can be used to access a tax free cash lump sum, repay debts, make payments toward home adaptations, or assist a family member. The goal is to select a product offering the right terms and flexibility to meet your needs today and in the future.

To begin, you can use a simple calculator to estimate your potential borrowing, though a personalised amount calculation is always recommended. During an appointment with a qualified adviser, your personal and financial details will be reviewed to confirm what you may be eligible for. The adviser will also provide tailored information and guide you through available options.

All products should follow the standards set by the Equity Release Council, ensuring safeguards like the no negative equity guarantee. This is especially important when considering the future impact on your estate and your ability to pay for long-term care or leave an inheritance.

A dedicated team will help you through the full process, from assessing your needs to selecting the most suitable plan. The equity you release could also affect any benefits you currently receive, so it’s important to understand how your entitlement might change. Speaking to a regulated adviser ensures you’re guided through every step, with your long-term goals and family interests in mind.

What Can I Use the Nationwide Lifetime Mortgage Money For?

Many people exploring equity release want to understand how the money you release can be used. Whether you’re planning your retirement, managing household costs, or helping family, the funds can support a wide range of financial goals. One common reason is to release some money from your home to pay off an existing mortgage, easing monthly commitments and improving peace of mind.

As a homeowner, you have the flexibility to use your borrowing in a way that suits your situation. The value of your home and your age will influence how much you can access, and a qualified adviser can help you review available options. Products vary across the market, and a wide range of features is available depending on the product and provider.

Some customers choose to take a single lump sum, while others prefer plans with optional monthly repayments. In many cases, you can make monthly payments to service the interest and reduce the overall impact on your estate. This process is supported with clear documentation, including a personal illustration to show how the plan would work over time.

Equity release can also be used to supplement income, carry out home improvements, or support loved ones. However, it’s essential to consider how accessing these funds may affect your means tested benefits. A qualified adviser will explain how your current and future entitlements may be impacted based on the plan you choose.

Ultimately, equity release offers flexible financial solutions that can be tailored to support your goals. With the right advice and planning, it can provide a valuable source of money to help you enjoy greater security and freedom in later life.

Will I Still Own My Home?

Yes, if you take out a lifetime mortgage, you will still own your home. Equity release does not mean giving up ownership — instead, it is a form of borrowing available to people aged 55 and over, using a loan secured by a legal charge against the property. This allows the borrower to access funds for a range of purposes, from building a cash reserve to creating money for a better lifestyle, all while continuing to live in the property for the rest of their life.

Each applicant’s circumstances are assessed carefully, including health, income, and future goals. Providers are required to review all applicant circumstances, especially where a partner is involved or the recipient is entitled to state benefits. It’s important to understand that releasing equity may impact your entitlement to means-tested support depending on how much is released and how the funds are used.

A key safeguard is the no negative equity guarantee, which ensures that neither you nor your loved ones will ever owe more than the value of the property, regardless of interest rates or how long you remain in the home. This protection is a standard part of plans offered by providers approved by the Equity Release Council.

It’s also important to consider the long-term risks and potential implications for your estate and family. The features of the plan — including drawdown options, inheritance protection, and repayment terms — should be carefully weighed in the context of your tax position and personal objectives. Every plan should be tailored to your unique situation, with support from a qualified adviser to ensure it aligns with your needs both now and in the future.

NATIONWIDE BUILDING SOCIETY – STRUCTURED INFORMATION

🏗️ GROUP ENTITIES & SUBSIDIARIES

🛡️ REGULATORY AUTHORISATIONS

🌍 PRODUCT PORTFOLIO & ACTIVITIES

• Savings & Deposit Products
  • Easy-access, fixed-term, notice, junior, and ISA accounts
  • High interest savings and Help to Buy ISA (historical)
• Mortgages & Residential Lending
  • Standard residential mortgages, first-time buyer schemes, remortgages
  • Specialist lifetime mortgages; partnership with intermediaries
• Commercial & Corporate Lending
  • Finance for SMEs and mid-market businesses via Nationwide Corporate Banking
  • Commercial mortgages for buyers of investment property
• Annual & Investment Products
  • Managed investment funds, offshore bonds, ISAs, and wealth advisory services
  • Investment bonds and endowment policies for civil servants & professionals
• Insurance Provision
  • Home, life, travel, payment protection, critical illness insurance
  • Family Protection and Multi-cover packages
• Covered Bonds
  • Funding through Nationwide Covered Bonds LLP using high-quality mortgage pools
• Offshore Services (now withdrawn)
  • Multi-currency personal savings in Isle of Man (closed Dec 2017)
  • Deposit-taking in Ireland (ceased May 2017)

📬 HEADQUARTERS & BRANCHES

Nationwide Building Society (Head Office)

• Address: Nationwide House, Pipers Way, Swindon SN38 1NW, UK
• Phone: +44 1604 853696
• Website: https://www.nationwide.co.uk

Nationwide Corporate Banking Ltd

• Office: 357 Station Road, Darwen, Lancashire, BB3 1QT, UK
• Phone: +44 1254 883333
• Website: https://www.nationwidecorporate.co.uk

Savings & ISA Customer Care

• Based at: Nationwide House, Swindon address above
• Savings Enquiries: 0345 300 0500

Mortgage Services

• Postal: Nationwide House, Swindon SN38 1NW
• Phone: 0345 878 7888

Loan & Credit Customer Support

• Loans Line: 0345 300 3884
• Credit Card Customer Care: Self-service via website

☎️ CUSTOMER CONTACT LINES

🏦 INTERNATIONAL PRESENCE AND OFFSHORE ACTIVITY (HISTORICAL)

• Isle of Man: Nationwide International Ltd operated multi-currency savings until licences withdrawn in Dec 2017
• Republic of Ireland: Nationwide UK (Ireland) offered deposit accounts until May 2017
• Covered Bonds LLP: Issues UK-regulated covered bonds, accepted within European/EU bond market frameworks
• Member-Based Model: Profits returned to members via enhanced saving rates and exclusive mortgage deals

💰 INVESTOR & MEDIA INFORMATION

• Investor Resources: Annual reports, financial statements, investor extractions on official site
• Media Enquiries: Contact via Nationwide Media Centre on website
• Treasury & Funding Info: Covered bond issuance details via SPV and treasury team contacts

SUMMARY

Nationwide Building Society is a mutual entity owned by its members, with a broad portfolio spanning retail savings, mortgages, investment and insurance services, alongside commercial and corporate banking. It has historically held offshore presence in Isle of Man and Ireland and maintains a strong funding strategy through covered bonds. Regulation is primarily UK-centric under FCA and PRA oversight, with closed operations outside the UK in recent years. All contact channels, addresses, phone numbers, and service-specific lines have been provided above, meeting the requirement for comprehensive, structured data.