Equity Release - Property Account

The new Property Account from Scottish Widows Bank allows you to release tax-free cash from your home, without having to move house.

Many thousands of people do this each year - as a way of funding their retirement, or to go towards other plans such as buying a house abroad or a car. It can also play an important part in your inheritance tax planning.

The Property Account gives you two options:

• our Flexible Lifetime Mortgage, or
• our Fixed Lifetime Mortgage

Flexible Lifetime Mortgage - if you're aged 55 and over, you can:

• borrow from 15% to 45% of your property value in a lump sum or smaller amounts.
• pay interest only every month based on a variable interest rate.
• use our Mortgage Reserve Account to drawdown money up to an agreed limit, as and when you need it.
• reduce the amount of interest you pay each month by offsetting any savings
• keep ownership of your home.

Fixed Lifetime Mortgage - if you're aged 60 and over, you can:

• borrow from 15% to 45% of your property value, depending on your age.
• roll interest up into the loan and pay it only when the property is sold, or pay monthly if preferred.
• pay interest based on a fixed rate.
• keep ownership of your home.

Download your free guide - A guide to releasing money from your home. (pdf 456k)

Alternatively, complete the request form and we'll send you a free guide.