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