Prestige Options

A high value tax free lump sum

Our Prestige Options provide your customer with a one-off, cash lump sum. Available for loan amounts of over £250,000, this product provides a tax-free lump sum for customers with properties valued between £500,000 and £6 million. Properties above £6 million will be considered on a case by case basis.

The interest rolls-up and is added to the outstanding loan balance each month, so no payments are due. 

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You can find out more about the product features in our At A Glance Prestige Options Guide.

On our Prestige Options:

  • The interest rate is fixed from the outset.
  • Customers can borrow a minimum loan amount of £250,000 and a maximum of £2 million. 

Other product features:

  • Fixed early repayment charges

Our Prestige Options have fixed early repayment charges. They are 10% of the initial loan amount for the first five years, 5% for years 6 to 10, and 0% from year 11 onwards.

  • Inheritance guarantee

If your customer wants to leave an inheritance to their estate, they can choose to take advantage of our Inheritance Guarantee Option. This product feature is free of charge and protects any remaining equity.

  • Cash reserve facility

You can add a cash reserve facility to your customer's lifetime mortgage at the outset. Alternatively, they can apply for additional borrowing at a later date. You can find out more about both of our additional borrowing options here.

Interest rates

Product Monthly interest rate (MER) Annual interest rate (AER)
Prestige 5.17% 5.29%

If your customer chooses to have a cash reserve facility the MER will increase by 0.2%.

LTVs

Our maximum LTV is 43%. You can find our LTV tables here.

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