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 solution for homeowners aged 55 or over who want to unlock the value in their house without having to sell 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 release 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 Nationwide lifetime mortgage 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 callback to speak with an expert who can walk you through your options and help you find the right path for 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 a Nationwide Lifetime Mortgage 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 provider’s eligibility criteria, which usually include being over 55 and having sufficient equity in your home. The loan amount you can obtain will depend on the value of your home, your age, and the plan’s specific terms.

A regulated lifetime mortgage 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.

The Financial Conduct Authority regulates plans, 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 a nationwide lifetime mortgage. 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 a lifetime mortgage 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 get through a loan secured against your home. The actual percentage available depends on factors such as your age, health, interest rate, and the lender’s specific plans.

Typically, the older you are, the higher your LTV. 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 your eligibility. The adviser will also provide tailored information and guide you through available options.

All products should comply with the standards set by the Equity Release Council, including safeguards such as 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 whole process, from assessing your needs to selecting the most suitable plan. The cash you release could also affect any benefits you currently receive, so it’s essential 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 a lifetime mortgage 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 equity in 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 by clear documentation, including a personal illustration that shows how the plan would work over time.

Nationwide Lifetime Mortgages 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, a lifetime mortgage offers flexible financial solutions tailored to 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. A nationwide lifetime mortgage does not mean giving up ownership. Instead, it is a form of borrowing available to people aged 55 and over, secured by a legal charge over the property.

This allows the borrower to access funds for a range of purposes, from building a cash reserve to funding a better lifestyle, all while continuing to live in the property for the rest of their lives.

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 property’s value, regardless of interest rates or how long you remain in the home. This protection is standard on 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 for Lifetime Mortgages

🌍 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, and remortgages
  • Specialist lifetime mortgages; partnership with intermediaries
  • Lifetime Mortgages
• 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, and 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

Lifetime Mortgage Services

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

Lifetime 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 were withdrawn in December 2017
• Republic of Ireland: Nationwide UK (Ireland) offered deposit accounts and lifetime mortgages 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 savings rates and exclusive mortgage deals

💰 INVESTOR & MEDIA INFORMATION

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

Nationwide Building Society Lifetime Mortgage and Loan Summary

Nationwide Building Society is a mutual owned by its members, with a broad portfolio spanning retail savings, lifetime mortgages, investment and insurance services, as well as commercial and corporate banking. It has historically maintained an offshore presence in the Isle of Man and Ireland and continues to pursue a strong funding strategy through covered bonds.

Regulation is primarily UK-centric under FCA and PRA oversight, with operations outside the UK having been closed in recent years. All contact channels, addresses, phone numbers, and service-specific lines have been provided above, meeting the requirement for comprehensive, structured data.

Lifetime mortgage rates in 2026: what to expect

Based on your property value and the amount of your initial lump sum, the current lifetime mortgage rates are about 0.5% higher than the most keenly priced repayment mortgage for someone younger, currently around 4.5%.

If you have a son or a daughter with impaired credit, a regulated equity release adviser may suggest that you can use your property value to borrow more cheaply than they can.

Who is a lifetime mortgage likely to suit?

Homeowners planning home improvements.

Property owners 55 and above who have been in their homes a long time might need to release a tax-free cash lump sum for a kitchen replacement, bathroom, or even a home extension or conservatory.

If you borrow money held in your property and use it to increase the size of your home, this type of value-adding borrowing can improve the value of your home significantly.

Those with a mortgage in place

A significant number of people who tend to suit a lifetime mortgage are property owners aged 55 or over with a mortgage approaching the end of its term they cannot realistically repay.

Interest-only mortgages were particularly popular around 20 years ago, when many people were advised to use a separate investment plan to repay the capital at the end of the term.

People who have not saved or invested to repay the capital owed, or even people who have built up debts and remortgaged over and over again to unlock cash from their homes

Those aiming to reduce inheritance tax exposure

If you have a son or daughter who has a mortgage or other debts, who is maybe having difficulty with monthly interest costs, not only could you plan for future inheritance tax bills with a lifetime mortgage, but you can often get an a fixed interest rate and lower than the rates your son or daughter is paying.

Plus, you will not have to make monthly payments. If your son or daughter borrows money for a mortgage or secured loan, they will typically need sufficient income and affordability to reduce the capital balance. With your lump sum lifetime mortgage money, they do not need to borrow the money in the first place.

Are lifetime mortgages a safe option?

Thanks to the Equity Release Council standards, the no-negative-equity guarantee, and the current interest rate, regulation has made lifetime mortgages safe.

Options for repaying a lifetime mortgage early

Yes, depending on the product selected, some have no early repayment fees to pay. Also, how compound interest works, many products will allow you to pay interest to stop your the capital owed from increasing over time.