Lifetime Mortgage Info
Why Choose Northern Rock?
Unlike the majority of equity release products available from other lenders, not only do we provide the option of either a one-off cash lump sum or monthly cash release for life, but your clients can actually choose a combination of both to suit their individual needs.
At Northern Rock, we are constantly reviewing our lifetime product range to ensure that we not only remain competitive, but we continue to offer new and innovative products. We are committed to ensuring we remain your number one choice for all of your equity release needs. Please refer to each product section for further details.
Additional Information
Property
If, for any reason, the application does not proceed on the original property the applicants must reapply for a new product available at that time. The property offered as security must be in England, Scotland, Wales or Northern Ireland, residential, owner-occupied and of conventional construction. Leasehold properties must have an unexpired term of at least 80 years. Northern Rock requires a first legal charge over the property offered as security.
| Purchase Price | Valuation Report Fee | Homebuyer's Fee |
|---|---|---|
| up to £60,000 | £360 | £515 |
| £60,001 - £100,000 | £380 | £555 |
| £100,001 - £150,000 | £410 | £595 |
| £150,001 - £200,000 | £435 | £640 |
| £200,001 - £250,000 | £460 | £685 |
| £250,001 - £500,000 | £520 | £750 |
| £500,001 - £750,000 | £575 | £800 |
| £750,001 - £1,000,000 | £620 | £850 |
| £1,000,001 - £1,500,000 | £750 | £1,050 |
| £1,500,001 - £2,000,000 | £900 | £1,250 |
| £2,000,001 - £2,500,000 | £1,050 | £1,450 |
| £2,500,001 - £3,000,000 | £1,200 | £1,750 |
| Over £3,000,000 | By Negotiation | By Negotiation |
For further information or Lifetime application forms, please contact your Business Development Manager or call our Intermediary Support Unit on: 0845 600 1516. For a Lifetime Mortgage quotation please call 0845 600 1150.
Alternatively Lifetime Mortgage application forms can be obtained by clicking on 'useful downloads'. A quick quote service is available by clicking on calculators & quotes.
Registered Office: Northern Rock House, Gosforth, Newcastle upon Tyne NE3 4PL. Telephone: 0191 285 7191 www.northernrock.com. Branches throughout the UK. Licensed Credit Broker.
The information within this brochure is for professional intermediaries only. It is not a consumer advertisement and should not be displayed or used as such.
The amount secured by the legal charge is to be repaid in a single payment from the proceeds arising from a sale of any property taken as security. A written quotation on loans can be obtained on request. Only available to persons of 60 years of age or over. Subject to status and our lending policy. Security in the form of a mortgage on your clients home will be taken. We are committed to an equal opportunities policy in our lending criteria and in the provision of finance to homebuyers and owners. Northern Rock subscribes to the Mortgage Code. Copies of the code are available upon request. MAR746/15742 Valid 15.7.2004
CHECK THAT THIS MORTGAGE WILL MEET THE NEEDS OF YOUR CLIENT IF THEY WANT TO MOVE OR SELL THEIR HOME, OR THEY WANT THEIR FAMILY TO INHERIT IT. IF YOUR CLIENT IS IN DOUBT, THEY SHOULD SEEK INDEPENDENT ADVICE.