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?

Can I revalue my property in the future to release more money?

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

Yes, your Prudential 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 option, is based on the terms and conditions of your plan and will be shown on your lifetime mortgage statement.

You can also contact the Customer Services Team on 0845 656 0000 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 prevailing rate will be confirmed at the time of your request. Please contact the Customer Services Team on 0845 656 0000 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?

You are unable to make partial repayments on your lifetime mortgage in the first 12 months from when the funds have been released.

Can you explain the charges I am paying?

All of the charges we require you to pay are explained in the fee section of your Key Facts Illustration or mortgage offer.

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.

Can I revalue my property in the future to release more money?

If you wish to revalue your property in the future, we will require a new application and all fees will be applicable. If there is a significant change in value to your property you may be eligible for more borrowings. Please note that this can be financially inappropriate and you should discuss this with your financial adviser.