| Ref |
41 |
| Plan Name |
Roll-Up Lifetime Mortgage |
| Plan Type |
Rollup |
| Rate Type |
Fixed |
| Rate |
6.49% |
| APR |
6.8% |
| Interest Calculated |
Annually |
| Interest Applied |
Annually |
| Min Percent Loan To Value |
20% |
| APR |
6.8% |
| Min Cash Sum to Value |
£10,000 |
| Max Percent Loan To Value |
40% |
| Max Cash Sum To Value |
£250,000 |
| Total cost of credit |
£215,752.57 (based on a 15 year term and an initial loan of £80,000).
|
| Minimum Male Age |
60 |
| Minimum Female Age |
60 |
| Minimum Joint Age |
60/60 |
| Lump Sum |
Yes |
| Regular Income |
Yes, Via separate PLA. |
| Income Fixed |
No |
| Income Escalating |
No |
| Income Linked |
No |
| Life Cover |
No |
| Further ER Advances |
No |
| SHIP Member |
Yes |
| No Negative Equity Guarantee |
Yes |
| Medical Required |
No |
| Ex Council Property |
No |
| Location |
England Wales
|
| Minimum Property Value |
£100,000 |
| Minimum Length of Lease |
80 years |
| Property Condition |
Well maintained |
| Property Type |
House |
| Property Status |
Freehold Leasehold Sheltered (category 1 & 2) |
| Existing Mortgage |
No |
| Conditional Property Insurance |
No |
| Security of Tenure |
Yes |
| Minimum Income Requirement |
No |
| Income Linked to Property Value |
No |
| Plan Income Protection |
No |
| Incentives |
No |
| Fees |
| Arrangement |
 |
Yes, £500, Also Unregistered (at Land Registry) Property Fee £200 (added to loan on completion). |
| Discharge |
|
No |
| Legal |
|
Yes, Applicants pay own legal fees only. |
| Valuation |
|
Yes, 0.1% of the property value. |
| Early Repayment |
|
Yes, Early repayment charge period is lifetime. |
| Other |
|
No |
|
| Loan Repayment Options |
Yes, Additional charge between 0% and 20% of cash advance dependent on movement in Benchmark Interest Rate. Also upon moving into care, repayment required but with no early repayment adjustment. |
| Is Plan Portable |
Yes |
| Available From |
Direct, IFA |
| Other |
Drawdown facility available. |
| Plan Details Date |
Sep 2007 |
