Saga Lifetime Mortgage

For more information speak to the Saga Equity Release team today to help you find out whether equity release could help you.

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Unlock the funds you need

A Saga Lifetime Mortgage could cover the cost of something important to you. You can choose to borrow the maximum amount of equity available as a lump sum or take a smaller amount first, with additional withdrawals later up to a pre-agreed limit, all as tax-free cash from your home. And you can use that money to pay for things like healthcare, home repairs and holidays.

You must be 55 or over with a UK property worth £70,000 or more.
A lifetime mortgage is a loan secured against your home. It will reduce the value of your estate.
The Saga Lifetime Mortgage is provided by our trusted partner Just. It’s only available through Saga Equity Release (provided by HUB Financial Solutions).
If you decide to take out a Saga Lifetime Mortgage, there’s an advice fee of £799. You could use your released funds to cover this.

Why choose a Saga Lifetime Mortgage?

For over 20 years, we've been helping people get the most out of their money. We always go the extra mile to give you the service you deserve. That’s why with a Saga Lifetime Mortgage, you can expect the following:

Money Back Guarantee - If you no longer need the money within six months of taking out a Saga Lifetime Mortgage, the product comes with a Money Back Guarantee. You can repay the money without any interest or early repayment charges. To be eligible, your initial advance can’t be over £150,000. T&Cs apply.
No Negative Equity Guarantee - Lifetime mortgages tend to be paid off when the last borrower passes away or enters long-term care. The Saga Lifetime Mortgage comes with a No Negative Equity Guarantee, which means that you or your loved ones will never owe more than the home’s value when it’s sold.
Payment holidays - The Saga Lifetime Mortgage offers additional flexibility by giving you the choice to pay all or some of your monthly interest, which can help reduce the overall cost of the lifetime mortgage. If you need to take a temporary break from your monthly payments, you can take a payment holiday of up to three months in a row during any 12-month period.

Remember, a lifetime mortgage is a loan secured against your home and will reduce the value of your estate. For more about the service and fees, visit our important information page.

How to apply for a Saga Lifetime Mortgage

1. Find out if equity release is right for you

The Saga Equity Release team will introduce you to the service and check you’re eligible. If you're eligible and you would like to go ahead, the team will set up a meeting with an adviser who can:

Explore alternatives to equity release that might suit you better.
Check your eligibility for state benefits to ensure you're getting everything you're entitled to.
Discuss your needs and put together a recommendation report for you.

Saga Equity Release is a no-obligation, no-pressure service. You will need to pay an advice fee of £799 if you decide to take out a Saga Lifetime Mortgage.

2. Apply for your product

Your adviser will talk you through the Saga Lifetime Mortgage’s flexible options and features. Together, you can put together a product that’s tailored to your needs. If you're happy with it and want to proceed, they'll help you apply.

3. Get your tax-free money

Once Just have accepted your application, they'll aim to put the money in your solicitor’s account within 40 working days. You can then spend it how you wish on almost whatever you want. Find out more in the terms and conditions.

Ready when you are

The team at Saga Equity Release can help you decide whether equity release is right for you. Arrange a call back at a time that suits you.

0800 096 7120

Mon-Thu 9am - 6pm
Fri 9am - 5:30pm
Sat Closed
Sun Closed
Excluding bank holidays

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Saga Equity Release

Saga Equity Release is provided by HUB Financial Solutions Limited, who will pay us an introductory fee if you go ahead with equity release using the service. HUB Financial Solutions Limited, part of Just Group plc, is authorised and regulated by the Financial Conduct Authority. You can find out more about the service and fees on the Important information page.