Options for taking additional borrowing on your lifetime mortgage
If you want to release more money, your options are set out below. Any additional borrowing will be secured against your home and will be based on the terms available from us at the time you apply.
Lifetime Mortgage Drawdown
The difference between the initial cash sum you’ve taken and the maximum amount you could take is called your Drawdown Facility. If your annual statement shows a drawdown facility on your lifetime mortgage you can apply for a drawdown.
There is no Drawdown Facility on our Payment Term Lifetime Mortgage.
Lifetime Mortgage Further Advance
If you have no Drawdown Facility available and the value of your home has increased sufficiently since you took out the lifetime mortgage you may be able to release more equity. This is known as a Further Advance and we can help you find out if you’re eligible.
Managing your pension
Keep track of your Legal & General pension seven days a week through our online services
My P60 statement
Why do I need it?
Find out why you receive a P60 and why it’s important to keep it. There are also details on who to contact for more information.
Homes for Ukraine
Legal & General Home Finance are fully supportive of the Government’s Homes for Ukraine scheme. If you're planning to house Ukrainian refugees, we want to support you in doing that.
There are a few things we need you to be aware of.
- You will need to continue to live in your property.
- You cannot charge rent or set up a tenancy agreement to do this.
It's also important you consider whether by providing this support you are still able to afford your household bills and other financial commitments and it doesn’t put you in financial difficulty.
You should also check with your building/contents insurer to see if you need their consent. If you've been approved to participate in the scheme and matched with an individual or family, for now all you need to do is let us know by calling our Customer Service Team on 0333 044 8444.
For more information on the scheme and government guidance visit their site.
Looking for a financial adviser?
Need a financial adviser?
After you've had free guidance you can speak to a financial adviser who specialise in providing help and recommendations for your pension and retirement planning.
You may need to pay for advice, but in return they'll provide you with a personal recommendation to help you make the right retirement choice.
Finding a financial adviser/planner
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Bereavement support
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Handling the finances when someone has passed away can be daunting, and far from easy. We'll do everything we can to make it as simple as possible.
We're here to guide you through each step:
- How to let us know
- Which documents you'll need
- What happens next
- How to contact us if you need any help.
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Complaints
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Let us know something has gone wrong
We work hard to give you the best possible service but if we've let you down, please tell us. We'll try to make things right as quickly as we can.
