Text for Report on Title
ROT: Lifetime Mortgage terms and conditions
- Change date
- 24/07/2025
- Word count
- 535
- Deployment measure
- 7/10
Rationale
This draft wording confirms a no-repayment equity release mortgage secured by a first charge, with rolled-up interest repaid upon sale following death or permanent care. The lender retains repossession rights in specific circumstances and imposes conditions around occupancy, repairs, and transfer, while offering protections such as a No Negative Equity Guarantee and limited early repayment charges.
I confirm that I have received your offer of mortgage from [____________] who have been appointed to act on behalf of [______] (hereinafter called "the Mortgagee") in respect of the
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