Retirement Lifestyle Booster

We know many retired clients reach a point in their life when they wish to make the most of money tied up in their home to enjoy life's luxuries. Our Retirement Lifestyle Booster mortgage allows these clients to be able to release equity from their current property for regular monthly advances and an optional lump sum.

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3.74% 10 year discounted rate Retirement Lifestyle Booster

Code XDR003
10 years 5.04% 25% £175* £999** £250 No Yes No  
More details, fees & downloads Criteria A-Z Check affordability DIP Request Illustration Request Contact your BDM Online Application
  • Discount - 1.30% discount applied to our Managed Mortgage Rate for 10 years
  • Maximum loan - No maximum. Loans above £500,000 should be referred to us for specific agreement before submission of an application
  • LTV - Maximum LTV 25%
  • Early Repayment Charges - 3% in the first year, 2% in the second year, 1% in the third year
  • Cost for comparison - 4.0% APRC
  • Minimum interest - 3.29%
  • Purpose - Remortgage only
  • *Valuation fees - Free for properties up to £500,000. For properties above £500,000 the standard valuation fee scale applies, less £330 discount
  • **Product fee - £999 for loans up to £500,000. 0.3% of the advance for loans over £500,000
  • Minimum property value - £240,000 if property owned outright or £180,000 if repaying existing mortgage

This mortgage product has limited funds and may be withdrawn at any time. This type of mortgage is available to applicants aged 60 and over for remortgage of properties in England or Wales.

To calculate what we may be able to provide for your client, use our Retirement Lifestyle Booster calculator.

Unique Features of the Retirement Lifestyle Booster

Monthly advances

Your client will be paid in the same monthly instalments on the 10th day of each month, for 10 years, unless your client wants to stop earlier. Any existing mortgage is repaid from the agreed loan at the start of the Retirement Lifestyle Booster.

Optional lump sum

We also provide the option for your client to borrow an initial lump sum at the start of their Retirement Lifestyle Booster to use as they wish. This will in turn affect the monthly loan available but provides an additional option for your client.

Repayments

Each month your client will only pay the 'average' interest due over the 10 years duration of the loan, rather than on the increasing balance built up over time. Then your client repays the loan by selling their home and moving somewhere less expensive.

10 year duration

This mortgage has a 10 year term on a discounted variable rate, which means your clients have the same product for the 10 year term. This gives your clients 10 more years of enjoying their home and making the most of their retirement, before deciding to move to a less expensive property.

  • Case Study

    Helping the retired move home

    Providing sensible solutions when the existing lender won't help.
    Download case study
    CaseStudy-RetiredMovingHome-PatPeter
  • Case Study

    Making Retirement Easier with a Retirement Lifestyle Booster

    Additional money each month towards holidays, boosting lifestyle and treating grandchildren.
    Download case study
    CaseStudy-RetirementLifestyleBooster-JohnLinda

Criteria checker

Can we help your client? Use our tool to find out.
Simply type your criteria to see our levels of acceptance and flexibility.

Find Your Local

Business Development Manager

Your Local BDM:

Michelle Parry-Bunter

Michelle has worked for the Society for over a decade and focuses on the South Coast. Contact Michelle for help with your clients' mortgages.
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Your Local BDM:

Nathan Waller

Nathan was previously a mortgage and protection adviser, and focuses on Essex and Kent. Contact Nathan for help with your clients' mortgages.
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Your Local BDM:

Charlotte Grimshaw

Charlotte has a background working with intermediaries within the Building Society sector and focuses around the West M25 area. Contact Charlotte for help with your clients' mortgages.
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Your Local BDM:

Darren Deacon

Darren has over 28 years' Financial Services experience and focuses on both the East & West Midlands. Contact Darren for help with your clients' mortgages.
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Your Local BDM:

Paul Roberts

Paul has over 30 years' experience and focuses on the North (inc. M62 corridor), Yorkshire & North East. Contact Paul for help with your clients' mortgages.
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