How do I apply?

The application process

Your financial adviser will help guide you through the application process for your Retirement Mortgage. The guide below outlines the steps we will follow to consider your application.

Initial eligibility check

A calculator is available on our Adviser website. Your Financial Adviser will need details of your employment income, retirement income and/or pension savings, together with your age(s) and property value.

Obtain a personalised illustration

Your adviser will obtain a personalised illustration on your behalf.

The personalised illustration will explain in more detail the features and risks of the mortgage. The illustration is prepared in a standard format. This means that you can compare the plans of different providers more easily.

Obtain a decision in principle

If you wish to proceed to the next stage, your adviser will help you to complete an application for a decision in principle. Based on what you tell us, we will assess whether you are eligible for the loan amount you require. A credit search will also be performed.

We will communicate the decision to your adviser and issue an updated personalised illustration.

Submit a full application

When your adviser submits the full application, we will also need evidence to support your application. This will include statements of your pension entitlements and copies of your bank statements.

You will also be required to pay for a valuation of your property at this stage. This fee isn’t refundable even if the plan does not go ahead.

Property valuation

We will instruct a surveyor to visit your home and value it. The surveyor will agree with you a suitable time to visit.

The condition of the property will also be checked. If there are any urgent repairs required which affect the value of your home, you may be required to undertake these repairs as a condition of your loan.


Once your application has been verified and your property valued, we will finalise the proposed terms of your mortgage in an offer. If you decide to proceed, you will appoint your own independent solicitor to act for you through the conveyancing process.


This is the process that takes place between your solicitor and ours in order for the legal charge to be taken on your property. Checks are made to ensure that the property is a suitable security for the plan and it is possible (although uncommon) that issues may arise at this stage once detailed searches are undertaken.


Once the legal charge is ready, your solicitor will arrange completion of the loan. You will be required to sign the legal charge, and a certificate confirming that the solicitor has explained the plan to you.

Please make sure that you are entirely comfortable with the terms of the plan, as once it is completed you will no longer have a right to withdraw.

On the same day, we will pay across your cash lump sum to your solicitors, and they will make arrangements to pass these monies on to you.

This is a lifetime mortgage. To understand the features and risks, ask your Financial Adviser for a personalised illustration.

Your home may be repossessed if you do not keep up repayments on your mortgage.

Next Page: Case studies