Prudential Lifetime Mortgage

This page is for existing customers who currently have a plan with Prudential, and for customers who previously had a Stonehaven Lifetime Mortgage. If you are a new customer, please note that we no longer offer this product.

Do you want to release more money from your plan?

If you would like to release some additional funds, simply follow the three easy steps outlined below. The additional funds could be in your account in as little as 10-12 days from your call.

Step 1: Check your most recent statement

Check your latest statement to find out how much is available to you or call us on 0345 656 0000.

Please note, not all product options allow you to release additional funds. If you're unsure about whether you can release more funds, please call us on 0345 656 0000.

Step 2: Apply for drawdown

If you have funds available and would like to take advantage of some or all of these, simply call us on the number below or use our online request form and let us know how much you'd like to release (criteria and minimums apply). If you previously had a Stonehaven Lifetime Mortgage, you can only request the release of additional funds (drawdowns) by phone.

Step 3: Drawdown Offer Document

We will then send you a Drawdown Offer Document, to confirm the details. Simply complete this with your bank details and signature(s). Once we receive the signed Drawdown Offer Document back, we will transfer your funds (a drawdown fee of £90 will apply) to your bank account within three working days.

Common questions from existing customers

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. Our Moving Home flyer will help explain what is involved.

How much money do I have left to release?

The amount you can release with the Increasing Cash Reserve is 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 on 0345 656 0000 for more details.

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

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

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. You can find details of these charges in section 13 of your mortgage offer.

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

You can repay your mortgage in full or in part at any time. If you have a series of loans, loans with the highest interest rate will be repaid first.
If you have two or more loans with the same interest rate, the loan with the lowest Early Repayment charge will be repaid first.

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 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 on 0345 656 0000.

When will I receive my annual statement?

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

Call us for more information

0345 656 0000
Mon-Fri 8.30am-6pm

We might record your call for training and quality purposes. To find out more about how we use your personal data please visit Please note that under certain circumstances the facility of further withdrawals could be restricted.