SmartER Choices for Drawdown Lifetime Mortgages

Step 1 of 6

Loan details

Please select the purpose(s) for your release of equity:

Debt consolidation

Home improvements

Repay mortgage

New/second home

Supplement income

New Car

Gifting

Holiday

Inheritance planning

Care planning

Emergency & lifestyle funds

Other

What would you like to release?

Maximum loan

Specific amount

What type of equity release or mortgage plan are you looking for?

Lifetime Mortgage (most popular)

For homeowners age 50+
You retain 100% ownership of your home
Option of receiving lump sum, drawdown or income payments
Loan amount based on age & property value
Optional voluntary payments, requiring no proof of income
Balance increases if no repayments are made to the lender
Plan runs for the rest of your life
Loan is repaid on death or long term care

Home Reversion

For homeowners age 70+
Sell part or all of your property to the lender
Receive lump sum payment only
Loan amount based on age & percentage of property sold
No repayments are required to lender
Guaranteed inheritance for your beneficiaries
Plan runs for the rest of your life
Loan is repaid on death or long term care

Retirement Interest Only Mortgage (RIO)

For homeowners age 50+
You retain 100% ownership of your home
Option of receiving lump sum or drawdown payments
Loan amount is based on pre/post retirement income
Proof of income and affordability required
Interest only payments maintain a level balance
Plan runs for the rest of your life
Loan is repaid on death or long term care

Retirement Mortgage

For homeowners age 50+
You retain 100% ownership of your home
Lump sum payment only
Loan amount is based on pre/post retirement income
Proof of income and affordability required
Option to repay capital and interest, or interest only
Plan runs for a fixed number of years
Repayment required at end of term

Step 2 of 6

Your details

What type of application are you applying for?

Single

Joint

About you

Select your title

Please select

Your first name

Your last name

Your telephone number

Your email address

Select your marital status

Why are we asking for this information?

Your marital status, and whether the property is in single or joint ownership, can affect which plans are available to you. smartER analyses this data to show accurate results.

Please select

Your date of birth

Day

Month

Year

YYYY

Do you suffer from any health conditions?

Why are we asking for this information?

Adverse health can work to your advantage. Depending on your conditions, smartER will analyse how much rates can be reduced by, or how much extra you could borrow. Results provided are for guidance purposes only. The lenders final offer will be made following GP confirmation.

Yes

Step 3 of 6

Your residential address

Your postcode

Enter address manually

Country

Please select

Step 4 of 6

Property details

What type of building?

House

Bungalow

Maisonette

Flat

Is the property ex-local authority?

Why are we asking for this information?

Lenders can underwrite ex-local authority properties differently - either by the property type or postcode. smartER analyses this data to show accurate results.

Yes

What is the tenure?

Freehold

Leasehold

Absolute

Step 5 of 6

Your credit

Why are we asking for this information?

Your credit history will affect product availability. Although smartER conducts no credit check, information provided helps analyse which plans you’re eligible for.

Have you been in arrears or defaulted in the last 6 years?

Yes

Unknown

Are you currently in a Debt Management Plan?

Yes

Unknown

Have you any outstanding County Court Judgments (CCJs)?

Yes

Unknown

Are you currently in an Individual Voluntary Arrangement (IVA), or Debt Relief Order?

Yes

Unknown

Are you an undischarged bankrupt, or under sequestration order?

Yes

Unknown

Step 6 of 6

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