ANNOUNCEMENT: Royal London confirms acquisition of Responsible Life and Responsible Lending

Our range of products

At a glance...

Responsible Lending are the exclusive providers of the Royal London Equity Release product range. Within this range, we offer four distinct products.

Product
Property Value
Lump Sum
Drawdown
Fee Paid
ERCs
Age of the youngest borrower
Royal London Equity Release Core Standard
£125,000 - £2,000,000
Check Mark
Check Mark
15 years
55-84 years & 364 days
Royal London Equity Release Core Premier
£2,000,001+
Check Mark
Check Mark
15 years
55-84 years & 364 days
Royal London Equity Release Principal
£125,000 - £2,000,000
Check Mark
10 years
55-89 years & 364 days
Royal London Equity Release Efficiency Plus
£125,000 - £2,000,000
Check Mark
10 years
55-89 years & 364 days
Table Image

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Find out more about our unique products .

  • The Standard Product is available to homeowners aged 55-84 years and 364 days.
  • You can release as little as £10,000 and up to £1,000,000.
  • With the Standard Product, you have the option of a Drawdown facility, with a minimum release of £2,000.

Age range

55-84 years and 364 days

Loan range

£10,000 - £1,000,000 (England)
£10,000 - £540,000 (Wales and Scotland)

Minimum property value

£125,000 (£150,000 for ex-council properties)

Maximum property value

£2,000,000 in England, or £1,000,000 in Wales and Scotland

Drawdown facility option

Yes - minimum release £2,000

Application fee free option

This product is always fee-free

Partial repayments

Yes - up to 10% the total cash advanced within each 12-month period. Maximum 12 payments per year, minimum £50 per payment

Downsizing Early Repayment Charge exemption

Yes - no charge applies if ported to a suitable new property. Or, after 5 years from the date of the initial advance, the loan is repaid as a result of selling the property and moving to another property which does not meet our lending criteria

Fixed Early Repayment Charges

Yes - 10% in year 1, 9% in year 2, 8% in year 3, 7% in year 4, 6% in year 5, 5% in year 6, 4% in year 7, 3% in year 8. 2% in year 9, 1% in years 10-15 and 0% thereafter

Exception of Early Repayment Charges on death/admission into long-term care of a partner

Yes - within 3 years if one partner passes away or moves into long-term care

  • Our Premier Product is available to homeowners with a minimum property value of £2,000,001.
  • There is no maximum property value.
  • Homeowners can release as little as £10,000 and as much as £2,000,000 from their property.

Age range

55-84 years and 364 days

Loan range

£10,000 - £2,000,000

Minimum property value

£2,000,001

Maximum property value

No maximum limit

Drawdown facility option

Yes - minimum release £2,000 and maximum loan, plus facility, £2,000,000

Application fee free option

This product is always fee-free

Partial repayments

Yes - up to 10% the total cash advanced within each 12-month period. Maximum 12 payments per year, minimum £50 per payment

Downsizing Early Repayment Charge exemption

Yes - no charge applies if ported to a suitable new property. Or, after 5 years from the date of the initial advance, the loan is repaid as a result of selling the property and moving to another property which does not meet our lending criteria

Fixed Early Repayment Charges

Yes - 10% in year 1, 9% in year 2, 8% in year 3, 7% in year 4, 6% in year 5, 5% in year 6, 4% in year 7, 3% in year 8. 2% in year 9, 1% in years 10-15 and 0% thereafter

Exception of Early Repayment Charges on death/admission into long-term care of a partner

Yes - within 3 years if one partner passes away or moves into long-term care

  • The Principal Product is available to homeowners aged 55-89 years and 364 days.
  • This is a fee-free product.
  • This product has Fixed Early Repayment Charges for 10 years.

Age range

55-89 years and 364 days

Loan range

£30,000 - £1,000,000 (England)
£30,000 - £500,000 (Wales and Scotland)

Minimum property value

£125,000 (£150,000 for ex-council properties)

Maximum property value

£2,000,000 in England, or £1,000,000 in Wales

Drawdown facility option

Not currently available with this product

Application fee free option

This product is always fee-free

Partial repayments

Yes - up to 10% the total cash advanced within each 12-month period. Maximum 12 payments per year, minimum £50 per payment

Downsizing Early Repayment Charge exemption

Yes - no charge applies if ported to a suitable new property. Or, after 5 years from the date of the initial advance, the loan is repaid as a result of selling the property and moving to another property which does not meet our lending criteria

Fixed Early Repayment Charges

Yes- 9% in year 1, 8% in year 2, 7% in year 3, 6% in year 4, 5% in year 5, 4% in year 6, 3% in year 7, 2% in year 8, 1% in years 9-10 and 0% thereafter

Exception of Early Repayment Charges on death/admission into long-term care of a partner

Yes - within 3 years if one partner passes away or moves into long-term care

  • Homeowners with an EPC of D and above can benefit from a reduced interest rate by choosing this product.
  • This product is always fee-free.
  • This product is available to homeowners aged 55-89 years and 364 days.

Age range

55-89 and 364 days

Loan range

£30,000 - £1,000,000 (England)
£30,000 - £500,000 (Wales and Scotland)

Minimum property value

£125,000 (£150,000 for ex-council properties)

Maximum property value

£2,000,000 in England, or £1,000,000 in Wales and Scotland

Drawdown facility option

Not currently available with this product

Application fee free option

This product is always fee-free

Partial repayments

Yes - up to 10% the total cash advanced within each 12-month period. Maximum 12 payments per year, minimum £50 per payment

Downsizing Early Repayment Charge exemption

Yes - no charge applies if ported to a suitable new property. Or, after 5 years from the date of the initial advance, the loan is repaid as a result of selling the property and moving to another property which does not meet our lending criteria

Fixed Early Repayment Charges

Yes- 9% in year 1, 8% in year 2, 7% in year 3, 6% in year 4, 5% in year 5, 4% in year 6, 3% in year 7, 2% in year 8, 1% in years 9-10 and 0% thereafter

Exception of Early Repayment Charges on death/admission into long-term care of a partner

Yes - within 3 years if one partner passes away or moves into long-term care

Got a case you would like to discuss ?

Contact our Business Development Team on 01752 858 222, or email them at bdteam@responsiblelending.co.uk

They will aim to assist you with even the most complicated cases.

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