The Scottish Widows lifetime mortgage has been designed to help customers unlock an initial lump sum with the option of drawing down further sums at later dates. Rates and charges are always clear. In addition, customers can choose whether to make optional repayments while benefiting from a range of other product features and safeguards.

Key features include:

• No Negative Equity Guarantee (NNEG)
• A percentage of the property value can be protected for inheritance or care
• Future release functionality available for 7 years
• Portable with no early repayment charges
• Interest rate fixed for the life of the mortgage
• No monthly interest payments during the customers lifetime
• Downsize protection
• Voluntary/partial repayments with no early repayment charge