Lifetime mortgages

Your lifetime mortgage

Further Advance

Further Advance

You may be able to apply to borrow more following the 12 month anniversary of opening your lifetime mortgage, subject to our lending criteria.

You must receive advice to make sure this is the right option for you. You can get advice and apply directly through Scottish Widows Bank, or you can speak to your Independent Financial Adviser.

Future Release

Future Release

If you set up a future release when you originally applied for your lifetime mortgage, you can apply to draw down the funds by contacting our Later Life Lending Advisers.

Power of attorney

Helping you manage your lifetime mortgage

Helping you manage your lifetime mortgage

  • You may need to give someone you trust access to manage your lifetime mortgage by setting up a power of attorney. 
  • If you have a jointly owned property, you cannot appoint each other as Attorney to deal with your joint lifetime mortgage. 
  • You must appoint someone else, a trusted friend or relative or a conveyancer/solicitor to sign any legal documentation.
  • You can find out how to do this by visiting Arranging A Lasting Power Of Attorney.

What can I do as an Attorney?​

What can I do as an Attorney?​

As an Attorney of the account holder, one of your primary responsibilities may be to manage their property and financial affairs.

You have been placed in a position of trust, and you must always act in the best interests of the lifetime mortgage account holder.

In the event that your family member or loved one is no longer able to make decisions for themselves, you may be able to:

  • Make general enquiries​
  • Help the account holder move house​
  • Draw down on an existing future release facility​

Future release on loan

Future release on loan

If a future release was set up when the loan was originally taken, you can apply to draw down the funds by contacting our Later Life Lending Advisers on 0345 122 1607.

Moving house

Moving house

If the account holder wants to move house, you may be able to transfer their lifetime mortgage to the new property, subject to our lending and property criteria at the time.​

What do I need to know?​

What do I need to know?​

  • You will need to have your name and address details registered with us and we may ask you to provide proof of identity.​
  • ​When you contact us we will take you through our standard identity checks to make sure we are talking to the right person​.
  • ​You should ask for a copy of the account holder’s mortgage offer and the Scottish Widows Bank Guide to Lifetime Mortgages booklet, so you know how the Lifetime Mortgage works, and when it needs to be repaid. ​
  • ​If you change your address, contact number or e-mail you should let us know so we can update our records for future enquiries or correspondence.​
  • ​When the account holder for whom you are Power of Attorney dies, you will no longer be able to access the lifetime mortgage account. Following the death of the last surviving borrower, we will contact the estate.​

Contact us

To speak to one of our Scottish Widows Bank Later Life Lending Advisers about moving home, a Further Advance or drawing down on your Future Release, please call us on 0345 122 1607. 

For general account information about your lifetime mortgage, please contact our Mortgage Customer Service team on 0345 845 0829. Our lines are open 8am - 6pm Monday to Friday.

You can also write to us at:

Scottish Widows Bank
PO Box 883
Leeds
LS1 9TY

You can also visit our FAQs section for important information and commonly asked questions.

Frequently asked questions

Scottish Widows Bank is a trading name of Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales, no. 2065. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under number 119278.