Welcome to Kerin Financial

Equity Release

What is a Lifetime Loan?

A Lifetime Loan is a form of equity release. With a Lifetime Loan people of 60 years of age are able to release value from their homes, at an interest rate that’s fixed for the entire duration of the loan.


What is a Lifetime Loan used for?

Most people use a Lifetime Loan for the reasons listed below:

  • A cash fund for lifestyle maintenance of a ‘rainy day fund’
  • Re-financing loans e.g., mortgages & other debts
  • Home improvements/purchases for the home
  • Cars and holidays
  • A deposit for your children for their own home

Note: You still own your home
The borrower continues to own their home, and the loan becomes repayable when the property is sold or within 12 months of the borrower’s death.

Key features of a Lifetime Loan

A Lifetime Loan is a mortgage loan secured against your home. You do not sell a share of your home. You borrow a cash sum using your house as security. You can use this money as you wish.

This type of loan is designed to last for the rest of your life. There are no regular repayments to be made. It becomes repayable if you sell your home or after you die or permanently cease to reside in your home.

  • This is a loan secured against your home.
  • You do not sell a share of your home.
  • You retain full ownership of your home and continue living in it for as long as you wish.
  • Regular repayments are not required.
  • Interest is added to the loan balance monthly.
  • The loan grows over time.


Have a question?

Book a free online or face to face meeting so we can provide the answers you need