Recommended Free Tools
With a lifetime mortgage, selling the home used as security usually means repaying the outstanding loan and accrued interest from the sale proceeds. Moving permanently into long-term care can also make repayment due, depending on the plan and whether someone else has a right to remain in the home. Moving to a new home may be possible, but only if the lender accepts it as security.
First, check which type of equity release you have
The word “equity release” can describe different arrangements. The sale and repayment rules depend on the contract.
As an Amazon Associate I earn from qualifying purchases.
Lifetime mortgage
A lifetime mortgage is a loan secured against your home. Interest may be added to the balance over time or paid as you go, depending on the plan. Repayment is generally due when the plan ends, commonly after the home is sold following the borrower’s death or permanent move into long-term care. MoneyHelper explains the usual repayment arrangements in its equity release guidance.
Quick wins for a faster PC:
Scan for outdated or missing drivers - takes under a minuteDriver Scan →Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Home reversion plan
With a home reversion plan, you sell all or part of your home to a provider, usually for less than its market value, and retain a lifetime tenancy under the contract. It is not a secured loan that simply transfers to another house, so the lifetime-mortgage repayment explanation below does not automatically apply. Check the plan terms and MoneyHelper’s home reversion guidance.
#1 Best Overall
If you sell your home
For a lifetime mortgage, the balance is normally repaid from the sale proceeds. The amount due can include the original borrowing and interest accumulated under the plan. Ask the provider for a current redemption statement before committing to a sale, and confirm the steps, deadlines, fees and any early repayment charge in writing. MoneyHelper advises borrowers to understand the repayment implications before selling.
If the sale proceeds are less than the amount owed, check whether your plan includes a no-negative-equity guarantee. Where it does, the borrower or estate will not owe the remaining shortfall after the home is sold and sale costs are accounted for. Do not assume this protection applies unless it is part of your plan.
If you want to move to another home
Your lifetime mortgage may be transferable, often called “porting,” but it does not automatically follow you to any property. Under Equity Release Council product standards, the provider must accept the new property as continuing security. The standards do not guarantee that every property or move will be accepted. Read the Council’s product standards and get the provider’s approval before exchanging contracts.
Downsizing can affect your options. Some lifetime mortgages include downsizing protection, which may allow you to repay without an early repayment charge if you meet the plan’s conditions and the provider will not accept the new home as security. Protection is not universal; qualifying periods and other requirements depend on the plan. Early repayment charges can apply in other circumstances. Ask the provider to confirm in writing whether downsizing protection applies to you and how any charge would be calculated. See the Council’s guidance on early repayment charges.
Rank #3
- [Bill Organizer Mastery]: Manage all your financials with Notewells' "Bill Organizer". This planner is essential for keeping track of subscriptions, invoices, and bill payments, ensuring timely payments every month.
- [All-in-One Financial Solution]: Notewells' planner is the perfect tool for organizing your bills, featuring sections for descriptions, due dates, and payment tracking. Streamline your financial management effortlessly and accurately.
- [Durable and Convenient]: Our "bill payment notebook" includes sturdy spiral binding and a back pocket, perfect for securing receipts and financial documents. Trust Notewells for organized and accessible financial records.
- [Premium Paper Quality]: Our "Financial Planner" features 100 gsm thick paper that prevents ink bleed and ghosting. Notewells guarantees that your financial records will stay clear and legible, preserving your data over time.
- [Stylish Financial Tracking]: Track your payments with style using our waterproof and elegantly designed planner. Notewells' "bill planner" combines practicality with a chic appearance, enhancing your daily finance management.
If you move permanently into care
A permanent move into long-term care can bring a lifetime mortgage to its repayment point. MoneyHelper describes repayment when the borrower moves permanently into a care home. However, a move does not necessarily mean the home must be sold immediately: the outcome may differ if a spouse, partner or joint borrower is entitled to remain there. The contract determines who has occupancy rights and what event triggers repayment. Equity Release Council guidance also discusses these circumstances; check its care-move guidance.
A permanent move is not the same as a temporary absence. The sources do not establish one universal rule for hospital stays, respite care or every other short-term arrangement. Ask the provider what its contract treats as a permanent care move and what evidence it requires.
Rank #4
- Keep Track of Your Finances: Manage your personal and family’s finances with this monthly budget planner! Intuitive, comprehensive and fun, this budgeting planner allows you to keep track of your debts, expenses and bills, organize your spending and saving and optimize your budget for achieving your financial goals!
- Large Budgeting Planner: Our budget notebook features a large design of 8.5 x 11-inch that provides enough space for budgeting, financial planning and spending tracking but also for monthly reviews and building strategies for optimizing your budget!
- Well-Organized for Your Convenience: This budget book planner features an easy yet efficient template that includes a monthly budget with customizable categories, a debt tracker, a bill tracker, an expenses tracker as well as a section for financial goals and monthly review that will make things easier when it comes to budget planning!
- 12-Month Budget Management: Our budgeting book features a spiral-bound hardcover design made with high-quality 120gm thick paper and a 12-month undated design that allows you to start budget planning at any time of the year!
- Chic, Practical, Giftable: Featuring a superb boho cover and packed in a matching gift box, this budget book journal makes a lovely gift for a friend, family member or co-worker! The budget journal includes a special pocket for bills, receipts or other documents and comes with 5 stickers that will make your planning more fun and effective!
Possible early repayment charge waiver
Equity Release Council standards effective 6 May 2025 describe a waiver of an early repayment charge for a permanent move into long-term care when the provider receives the required medical practitioner’s certificate and the borrower has complied with the loan terms. This is conditional, not a blanket waiver for every plan or care-related move. Verify that the relevant standard and waiver apply to your plan, and ask the provider which certificate and documents it requires. The Council’s standards announcement sets out the effective date.
Do these 3 things before closing this tab:
1Repair Windows errors before they cause bigger problems2Scan for outdated or missing drivers - takes under a minute3Clear out junk files and repair common Windows errorsWhat to ask the provider before deciding
Contact the provider as early as possible. If you are acting for the borrower, check what authority the provider requires before requesting account information. Ask for written answers to these points:
Best Value
- Durable hardcover with concealed wire-o binding
- Archival, acid-free paper helps preserve your information.
- Is the plan a lifetime mortgage or a home reversion plan?
- What is the current redemption figure, and how will it change with accrued interest and the expected completion date?
- What sale or transfer steps, deadlines and fees apply?
- Will the provider accept the proposed replacement home as security, and must approval be in place before exchange?
- Does the plan include downsizing protection, and what qualifying period and conditions apply?
- What counts as a permanent move into care under the contract, and what medical evidence is required?
- Can a spouse, partner or joint borrower remain in the home, and how does that affect repayment?
- Could an early repayment charge apply, and does a care-move waiver or no-negative-equity guarantee apply to this plan?
Because the decision can affect the home, the borrower’s finances and anyone living with them, consider taking advice before committing to a sale, transfer or repayment. MoneyHelper’s equity release guidance explains options for getting help.
Quick Recap
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
