Pensions & Retirement FAQs

Lifetime mortgages

Discover your options for releasing more money and arranging full or partial repayments.

  • Drawdown

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    The difference between the initial cash sum you’ve taken and the maximum amount you could take is your Drawdown Facility.

    Your annual statement will show if you can apply for a drawdown.

  • Further Advance

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    Further Advance

    If you don't have the option to take a drawdown payment but the value of your home has increased significantly since you took out your lifetime mortgage, you may be able to release more equity.

    This is known as a Further Advance.

  • Making payments

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    Making payments

    If you have money available, you can choose to repay all or part of your lifetime mortgage at any time.

    Payments may be subject to an Early Repayment Charge.

Financial help

Discover more help with your finances, such managing your pension online and finding a financial adviser.

Further support

  • Defined benefit pensions

    Defined benefit pensions

    A defined benefit pension offers you a set benefit each year after you retire.

    How much retirement income you might receive is determined by the rules of the pension scheme, rather than the amount you’ve paid in.

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  • Stay ahead of scams

    Stay ahead of scams

    We do everything we can to protect your money, but it's important you stay alert to avoid scams.

    If you think you've been affected by fraud, you should contact Action Fraud police on:

    0300 123 2040

    or call the police directly on 101.

    You can also contact us on 0800 096 6959 or, for more general help and advice about scams, please click below.

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  • Bereavement support

    Help when you need it

    Handling the finances when someone has passed away can be daunting, and far from easy. We'll do everything we can to make it as simple as possible.

    We're here to guide you through each step:

    • How to let us know
    • Which documents you'll need
    • What happens next
    • How to contact us if you need any help.
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  • Making a complaint

    Let us know something has gone wrong

    We work hard to give you the best possible service but if we've let you down, please tell us. We'll try to make things right as quickly as we can.

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