Build Your Own

Interest rates

  Age 55 - 69 Age 70 - 74 Age 75+
Lump Sum and Regular Cash Release 6.08% 6.48% 6.68%
Lump Sum, Regular Cash Release, and Cash Reserve Facility 6.17% 6.57% 6.77%
Regular Cash Release and Cash Reserve Facility 6.17% 6.57% 6.77%

In certain circumstances you may find that your client needs more than one of our standard product options, for example, a Lump Sum, plus a Regular Cash release, plus a Cash Reserve Facility. In these cases we offer you the chance to build them a bespoke plan.

In order to make this simple for you, our KFI system will guide you through a series of simple steps, allowing you to develop products with any one of the following combinations:

  • Lump Sum and Regular Cash Release,
  • Lump Sum, Regular Cash Release, and Cash Reserve Facility,
  • Regular Cash Release and Cash Reserve Facility
Loan Limits
Age 555657585960616263646566676869707172
Max LTV available (%) 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32

Age 737475767778798081828384858687888990
Max LTV available (%) 33 34 35 35 35 35 35 35 35 35 35 35 35 35 35 35 35 35

Exceptions:

The LTV may be adjusted in certain circumstances, such as sheltered accommodation or non-standard construction types.

Go to our Maximum Loan Calculator to find the maximum amount your client can borrow and the interest rate they will be charged.

Other information

Applicants

1. Minimum age (for the younger borrower)

55

2. Maximum age (for the younger borrower)

90

3. Status

Available on both single or joint-life basis. Joint borrowers do not need to be married and may be of the same sex. If the property is in joint names then both owners must apply for the loan.

Property

4. Location

England or Wales

5. Minimum property value

£70,000

6. Maximum property value

Maximum value of £2m in Greater London & SE, or £1m elsewhere (may be exceptions)

7. Type

See our Lending Policy.

Cash advances

8. Minimum initial advance

Total of Lump Sum and any Regular Cash Release payments must exceed £20,000, or £15,000 if a Cash Reserve Facility is included

9. Maximum initial advance

£500,000

10. Minimum further drawdown from Reserve Facility

£2,000 (or the remaining balance in the Cash Reserve Facility)

11. Further cash advance frequency

When required. Please note that your client will need to wait 8 weeks after completion before they can make their first drawdown.

12. Charges

See'Our Costs'

Protected Equity Option

With all Stonehaven lifetime mortgages your client can choose to protect a percentage of the eventual sale value of their home. The No Negative Equity Guarantee and the amount that Stonehaven will lend are based on the value of the unprotected portion of the property.

If, in the future, your client wants to reduce the amount of equity protected in order to apply for further borrowing , then the following should happen:

  • If your client has set up a Cash Reserve Facility and protected some of their equity, they can apply directly to Stonehaven. Stonehaven will not charge for reducing the protected equity, and the value of the cash reserve will be recalculated based on the new unprotected value of the property. The normal charges associated with making a drawdown from the cash reserve will apply.

Please note that the above scenario may impact your client's beneficiaries and the implications should be explained to your client.