Common questions from existing customers

I want to move home, can I take my lifetime mortgage with me?

How much money do I have left to release?

What is the interest rate if I drawdown now?

What happens if I do not want my lifetime mortgage anymore? Can I repay it?

Can I pay part of my lifetime mortgage back at any time?

Can you explain the charges I am paying?

I have a Prudential Home Equity Release Plan/Prudential Home Equity Plan, who should I contact?

I originally had a Stonehaven lifetime mortgage, who should I contact?

When will I receive my annual statement?

I want to move home, can I take my lifetime mortgage with me?

Yes, your lifetime mortgage can be transferred to another property if you move home. Of course your new house must fit with the conditions of the plan, but it does mean that you don't have to stay where you are if your circumstances change.

How much money do I have left to release?

The amount you can release with the Increasing Cash Reserve, will be shown on your lifetime mortgage statement.

If you previously had a Stonehaven lifetime mortgage with a Cash Reserve facility, you may be entitled to release more money. If you are unsure about what guaranteed facility is available to you, please refer to your last offer document or call us.

You can contact the Customer Services Team to confirm the exact amount of money available to you based on the conditions of your particular plan. Or find out how to release more money from your home.

What is the interest rate if I drawdown now?

The current rate will be confirmed at the time of your request. Please contact the Customer Services Team for more details.

What happens if I do not want my lifetime mortgage anymore? Can I repay it?

Repaying early is an option, but you should remember that this plan is a long-term loan. Therefore, if you repay early there may be extra charges. Details of these charges are available in section 13 of your mortgage offer.

Can I pay part of my lifetime mortgage back at any time?

For some contracts you are unable to make partial repayments on your lifetime mortgage in the first 12 months from when the funds have been released. Early repayment charges may apply. Please contact the Customer Services Team for more information.

Can you explain the charges I am paying?

All of the charges we require you to pay are explained in the Tariff of Charges document.

I have a Prudential Home Equity Release Plan/Prudential Home Equity Plan, who should I contact?

If you have a query about one of these plans or need to update any of your details, please call 0191 279 6600. Note that calls may be monitored or recorded for quality and security purposes.

I originally had a Stonehaven lifetime mortgage, who should I contact?

If you have any queries about your plan or the transfer of your plan to Prudential, you can call our Customer Services Team.

When will I receive my annual statement?

Annual statement are issued once a year, during the first 6 months of the year.