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A lifetime mortgage is a type of equity release product, typically available to homeowners aged 55 and over, though there are other mortgage options available for those under 55 that allow you to access funds from your property.
It allows you to unlock some of the equity tied up in your home without the need to sell it. Unlike a traditional mortgage, you don’t make monthly repayments. Instead, the loan and any accrued interest are repaid when you either pass away or move into long-term care.
As a trusted mortgage broker in Bristol, we offer alternatives for those over 50, and if any of these options are better suited to your needs, our team will recommend them when appropriate.
There are two main types of lifetime mortgages: a lump sum option, where you receive the funds all at once, and a drawdown lifetime mortgage, allowing you to withdraw money as needed.
Interest builds up over time on the amount borrowed, and it’s important to understand that this can reduce the value of your estate and affect your entitlement to means-tested benefits.
As a lifetime mortgage advisor in Bristol, we often suggest lifetime mortgages if you’re considering options like:
A lifetime mortgage in Bristol is a popular option for those aged 55 and over looking to purchase a new property. It allows you to secure the mortgage against your new home while unlocking equity from the property without needing to make monthly repayments unless you choose to. This can enable you to afford a more expensive home or relocate closer to family.
As providers of lifetime mortgage advice in Bristol, we’ve older borrowers who use lifetime mortgages to purchase a property for reasons such as:
Your home may be repossessed if you do not keep up repayments on your mortgage.
There may be a fee for mortgage advice. The fee is up to 1% but a typical fee is £995.
You should always think carefully before securing a loan against your property.
A lifetime mortgage will reduce the value of your estate and may affect your entitlement to means tested benefits.
Clearing existing mortgage with a lifetime mortgage may result in higher cost of borrowing.
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Tamsyn
As first time buyers my partner and I were uncertain of our mortgage options so we chose to use UK Moneyman and I’m so glad we did. I have been really impressed with the service I have received from Jason and Debbie. From the initial...
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Excellent service, kept up to date and was advised every step throughout the process.
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Anonymous
Dan and Jonathan were both brilliant and kept me informed all the way after helping me find the product that was suitable for me. I wouldn't hesitate to use Moneyman again. We communicated by email and telephone.
1 year ago
Anonymous
A bit of background - I was coming to the end of an interest only mortgage so sought advice on my options with the UKMoneyman and was introduced to Dan who was very helpful and went through my options of the different products and the pros and cons...
1 year ago
Adam
Worth their weight in gold. Helped navigate a complex mortgage enquiry, we would have fallen at the first hurdle if we were applying on our own. Excellent response times and always kept us informed. Was on the fence about going with a broker at all...
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James
Malcolm and his team are so helpful, from the first call I had to discuss options all the way to getting my mortgage offer today. Any query I've had they answered immediately and offered to talk through my options, my case worker Lizzi was...
2 years ago
Jessica
Very responsive even in late evenings! Answered all of the questions that I had, explained the whole process through out and made the house buying process so much easier!
3 years ago
Anonymous
Helen was lovely to chat with, she booked me in for an appointment with a broker within minutes of me sending an email enquiry on a Sunday and explained everything about the process really well.
3 years ago
Eamonn
Spoke to several Mortgage Brokers about my situation and having talked to Malcolm, he fully understood my views and gave me his honest opinion. A very professional, friendly, and efficient service that enabled us to the best mortgage on the market.
5 years ago
Booking a free initial mortgage appointment with a lifetime mortgage advisor in Bristol allows you to explore your options without any initial commitment.
While a lifetime mortgage is a great option for many, there are other alternatives available for homeowners, particularly those under 55 or seeking different financial solutions.
Considering a lifetime mortgage is a significant decision, and it’s important to discuss your plans with family members or trusted parties. Involving them in the process can ensure everyone understands how it might affect your estate or inheritance.
At the heart of our service is providing a tailored lifetime mortgage recommendation. We take the time to understand your financial goals, personal circumstances, and future plans to ensure we offer a mortgage solution that fits your needs.
As a reputable and trusted mortgage broker in Bristol, we have been helping our customers to achieve the mortgage goals they have their hearts set on for over two decades.
Your family is always encouraged to be a part of the lifetime mortgage advice process and we will always accommodate the various needs and situations our customers are in, if we are able to do so.
Once you have spoken to someone in your free lifetime mortgage advice appointment, your dedicated mortgage advisor in Bristol will look for the perfect lifetime mortgage deal.
We will only recommend a product that fits your current and future financial situation.
We work 7 days a week so that you can get in touch at a time that suits you.
We will be there to support you from the beginning of your process, every step of the way.
Our Home Buying App is a digital mortgage coach designed to help you save up, plan, and track your home buying journey – whether you’re buying your first home, or fancy a move.
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Bristolmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Bristolmoneyman 2009–2026
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Bristolmoneyman is a trading name of UKMM Limited, which is an appointed representative of Mortgage Advice Bureau (Derby) Limited, who are authorised and regulated by the Financial Conduct Authority.
UKMM Limited is Registered in England, No. 16541342 | Registered Address: Capital House, Pride Place, Pride Park, Derby, England, DE24 8QR.
© Bristolmoneyman 2009–2026
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