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ANNOUNCEMENT: Royal London announces acquisition of Responsible Life and Responsible Lending - Find out more
Combining market-leading rates, transparent terms and conditions, and fixed interest rates and repayment charges, to bring you only the best, most Responsible plans.
Responsible Lending are exclusive providers of the Royal London Equity Release products.
A Lifetime Mortgage from Responsible Lending has features designed to protect you, your property and your loved ones.
It is important to us that we keep our customers well-informed of our safeguards, designed to give you peace of mind and provide even more clarity about your Lifetime Mortgage.
Read more about safeguardsEvery customer is different. We want to make sure you're getting the advice and options that are suitable for your unique circumstances. This is why we only accept applications from a qualified independent financial adviser.
To find your local adviser, we recommend searching the Equity Release Council database:
The Equity Release Council website
We have created a comprehensive guide to releasing equity that might help you understand more about the products that we offer. You can view it online or, should you choose, download it and read it whenever you please.
If you are an existing customer and are looking for more documentation, you might be able to find this on our existing customers page.
Click to viewSince our foundation, we have been able to help thousands of customers in achieving their later life plans, through unlocking the tax-free cash in their home.
From making home improvements, to gifting an early inheritance, we have seen many reasons for our customers to release equity. Read some more of our success stories by clicking the button below, which showcase how we have managed to transform the lives of our customers.
Click to view
Typically homeowners aged 55 and over may be eligible for Lifetime Mortgages. You must own your own home and it must be worth at least £125,000. You may not be eligible for equity release if you own a leasehold property with less than 100 years before the lease expires unless extra years can be purchased. Freehold flats and maisonettes or registered smallholdings also may not qualify. Speak to your financial adviser to find out if you qualify for a Responsible Lending Lifetime Mortgage.
All financial decisions may come with an element of risk. When releasing equity, the value of your estate will be reduced and your entitlement to means-tested benefits may be affected. Speaking to an adviser is the best way to understand the risks and the available features to help mitigate these.
It is a condition of our Lifetime Mortgages that any outstanding mortgage is repaid. However, the equity you release can be used for this purpose and it is one of the most common reasons people unlock wealth from their homes. Bear in mind that this will reduce the amount available to you but may save you money every month on mortgage payments, which can then be put to other uses.
The sum outstanding from the equity release plan will usually be repaid from the sale proceeds of your property and the remainder goes to your estate. Where your representatives, such as children or other beneficiaries of your estate have not sold the home typically within 12 months of your death, equity release plan providers may reserve the right to become more involved in the sale of the property and deduct the costs of the sale from the amount due to your estate. Members of your family are welcome to clear the balance of the equity release through other means, such as a mortgage, so they keep the property in the family.
We work with Rothesay Life who were established in 2007 and have quickly become one of the leading providers of regulated insurance solutions in the UK. Rothesay Life has assets under management of £60 billion and insures the pensions of over 800,000 individuals. Rothesay Life funds our Lifetime Mortgages. Between our funders and ourselves, you are in safe hands.
With all of our plans, you are able to move home and take the plan with you to the new home, provided it meets our property criteria.
Yes, you will. Provided that you abide by the terms and conditions of your equity release plan then you are guaranteed to carry on living in your home for as long as it remains your primary residence.