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- Income Protection
Provides a regular monthly income if you’re unable to work.
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For many homeowners, their property is their largest financial asset. A Lifetime Mortgage can unlock part of that value without the need to downsize or commit to ongoing monthly payments.
Funds can be used to supplement retirement income, carry out home improvements, repay an existing mortgage, or provide financial support to family members.
At Prudell, we look carefully at the long-term impact — including how interest compounds, how inheritance may be affected, and whether alternative options such as a Retirement Interest Only mortgage may be more appropriate.
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Full review of your property value and available equity.
Clear explanation of interest roll-up and inheritance impact.
Comparison between Lifetime Mortgage and RIO options.
Guidance on lender criteria and product features.
Support from initial advice through to completion.
Ongoing review to ensure the solution remains suitable.
How it works:
Key benefits:
Who is it suitable for?
A Lifetime Mortgage may be suitable if you:
Both are designed for later life borrowers — but they operate very differently. A Retirement Interest Only mortgage requires monthly interest payments and affordability checks. A Lifetime Mortgage does not require monthly payments, but interest usually compounds.
The key question is often:
Monthly Payments
Optional (interest can roll up)
Required (interest only payments)
Capital Repayment
Repaid when property is sold
Repaid when property is sold
Affordability Check
Often no income assessment required
Yes – based on
pension / retirement income
Interest Treatment
Interest can roll up and compound
Interest paid monthly
Impact on Inheritance
Can reduce inheritance
if interest rolls up
Typically lower
(as interest isn’t compounding)
Risk of Repossession
No arrears risk from missed monthly payments (interest rolls up)
Yes – if payments not maintained
Flexibility
Many plans offer downsizing protection
May allow downsizing
Interest Rates
Typically higher than RIO
Often lower than Lifetime Mortgages
Best For
Those that do not wish to make mandatory monthly payments
Those with reliable retirement income
Mortgage Adviser & Later Life Lending
“A Lifetime Mortgage can provide valuable flexibility in retirement, but it’s essential to understand how compound interest works and how it may affect your estate over time.
We take time to explore your income position, family objectives, and long-term plans before recommending any later life lending solution. The structure must work not just today — but for the years ahead.”
Full review of your property value and available equity.
Clear explanation of interest roll-up and inheritance impact.
Comparison between Lifetime Mortgage and RIO options.
Guidance on lender criteria and product features.
Support from initial advice through to completion.
Ongoing review to ensure the solution remains suitable.
A Lifetime Mortgage is a loan secured on your home. You do not have to make monthly repayments, and the loan is usually repaid when you pass away or move into long-term care.
Interest is added to the loan over time, which means the amount owed will increase.
As part of our advice, we will always consider alternative options before making a recommendation, including downsizing or other forms of borrowing.
Borrowing is subject to lender criteria, including property type, age and limits may apply.
Taking out a Lifetime Mortgage may:
The loan, including any accrued interest, is repaid from the sale of your property.
Your home may be repossessed if you do not comply with the terms of your Lifetime Mortgage.
Understand the risks of major life events before retirement and the possible financial consequences if your income were affected. This assessment will provide guidance on the appropiate insurance protection to consider.
Likelihood
Likelihood
Likelihood
Likelihood
Based on your results, you may wish to explore:
Provides a regular monthly income if you’re unable to work.
These results are illustrative and based on general statistical data. They are not a quotation or personalised advice. Suitable cover and premiums will depend on your individual circumstances and insurer underwriting. Please speak to a Prudell adviser for tailored guidance.
Explore your options in protecting your mortgage commitment.
This is an indicative estimate only. Results are based on the details you provide and typical market assumptions. Availability, terms, and costs may vary following underwriting. This calculator does not provide advice. For a personalised, FCA-compliant review, speak to Prudell.
How much can you save with a mortgage refinance?
This is for capital + interest mortgages only.
This calculator provides estimates only and does not constitute a mortgage offer or financial advice. Figures are based on the information you provide and assumptions that may change. Your actual mortgage options, interest rate, fees, and savings may differ. Speaking to a Prudell adviser will allow us to assess your circumstances and provide personalised advice.
Find the best deals on the market from over 50 lenders.
Based on your details, here are some suitable mortgage options for you.
Estimated
Monthly Repayment
Estimated
Monthly Repayment
Estimated
Monthly Repayment
Rates shown are indicative and based on current market averages. Actual rates will depend on lender criteria and individual circumstances. To get more information to see the actual products with the named lenders, compare fees properly, and learn which is best for you, get in touch with a Prudell adviser.
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Your mortgage shouldn’t be set and forgotten, many people forget this and end up overpaying. We’ll monitor it for you — and let you know when action is worth taking.
Before buying a property, see how much Stamp Duty is due.
These results should be accurate. Rates last updated on 10.12.25
Get an estimate on how much can you afford to borrow according to lenders.
This is an estimate. Final offers depend on lender criteria, credit profile and verification. Contact Prudell for an FCA-compliant assessment. This calculator uses an income multiple method (common for quick estimates).
Estimate how much you could borrow based on income.
This is an estimate. Final offers depend on lender criteria, credit profile and verification. Contact Prudell for an FCA-compliant assessment. This calculator uses an income multiple method (common for quick estimates). Use the Mortgage Affordability tool for a 'lender-style' check.
Compare repayment, Retirement Interest Only, and lifetime mortgage options to understand your monthly payments, total interest, and longer-term impact. Adjust the figures to explore how different borrowing types could affect your costs over time.
Interest-only mortgages do not repay capital.
These results are for illustration only and are based on the information entered. Actual lender terms, interest rates and compounding methods may differ. Property growth is assumed at 2.5% per year for illustration and is not guaranteed. For personalised advice and precise figures, please speak to a Prudell adviser.
First-time buyer
95
5.00
First-time buyer
90
4.40
First-time buyer
85
4.20
First-time buyer
75
4.10
New Mortgage
90
4.50
Remortgage
90
4.35
Remortgage
75
4.15
Last Updated: 18/01/26
First-time buyer
95
5.50
First-time buyer
90
5.10
New Mortgage
90
5.00
Remortgage
75
4.60
Last Updated: 18/01/26
Buy-to-Let
90
5.30
Buy-to-Let
75
5.10
Buy-to-Let
60
4.90
Last Updated: 18/01/26
Buy-to-Let
90
5.75
Buy-to-Let
75
5.35
Buy-to-Let
60
5.05
Last Updated: 18/01/26
0.12
0.30
0.55
Last Updated: 18/01/26
Note:
Low/Fee-Free
0
0
0
0
0
Higher rate, minimal upfront cost
Standard
999
0
0
0
-0.10
Typical fee buys a small discount
Premium
1495
0
0
500
-0.20
Lower rate, higher fee, cashback offsets
Last Updated: 27/01/26
Low/Fee-Free
0
0
0
0
0
Short-term flexibility
Standard
499
0
0
0
-0.05
Slightly lower rate
Incentivised
999
0
0
500
-0.10
Tracker / discounted variable
Last Updated: 27/01/26
Low/Fee-Free
0
0
0
0
0
Common for first-time buyers
Standard
999
0
0
0
-0.10
Most mainstream products
Cashback
1495
0
0
500
-0.20
Higher fee, lower rate
Last Updated: 27/01/26
Low/Fee-Free
0
0
0
0
0
Often used as short-term solution
Standard
499
0
0
0
-0.05
Discounted variable
Cashback
999
0
0
500
-0.10
Less common but exists
Last Updated: 27/01/26
Low/Fee-Free
0
0
0
0
0
Often lender-assisted switch
Standard
999
0
0
0
-0.10
Typical remortgage
Cashback
1495
0
0
500
-0.15
Cashback ≠ full rate buy-down
Last Updated: 27/01/26
Low/Fee-Free
0
0
0
0
0
Common short-term remortgage
Standard
499
0
0
0
-0.05
Discounted tracker
Cashback
999
0
0
500
-0.10
Incentivised but cautious
Last Updated: 27/01/26
Low/Fee-Free
1499
0
0
0
-0.15
Most BTL products
Standard
1999
0
0
0
-0.25
Lower rates for higher fees
Cashback
2499
0
0
500
-0.30
Portfolio / professional landlords
Last Updated: 27/01/26
Low/Fee-Free
999
0
0
0
-0.10
Tracker / SVR discount
Standard
1999
0
0
0
-0.20
Lower margin products
Cashback
1999
0
0
500
-0.20
Less common but valid
Last Updated: 27/01/26