How Much Can I Borrow on a Lifetime Mortgage?

How Much Can I Borrow with a Lifetime Mortgage?

If you’re thinking about unlocking some of the value in your home through equity release, one of the first questions you’ll have is: how much can I borrow with a lifetime mortgage?

The answer depends on several factors — including your age, health, and the value of your property — but understanding how lenders calculate it will help you plan confidently.

What Is a Lifetime Mortgage?

A lifetime mortgage is the most popular form of equity release. It allows you to access tax-free cash from your home while continuing to live there.

The loan, plus any interest, is usually repaid when you sell your home, move into long-term care, or pass away.

What Affects How Much You Can Borrow?

How much you can borrow on a lifetime mortgage depends on:

Your Age – The older you are, the more you can usually release. Most plans start from age 55.

Your Property Value – Higher-value homes generally allow larger releases.

Health & Lifestyle – If you have certain medical conditions or lifestyle factors, you might qualify for an enhanced lifetime mortgage, letting you borrow more.

Lender Criteria – Each lender uses their own loan-to-value (LTV) percentages to calculate your maximum release.

Typical Lifetime Mortgage Amounts by Age

Age Estimated % of Property Value You Can Release

55 20%–25%

60 25%–30%

65 30%–35%

70 35%–45%

75+ Up to 55–60%

For example, if your home is worth £300,000:

At age 60, you might release around £90,000.

At 75, this could increase to £120,000 or more depending on the lender.

Lump Sum or Drawdown Lifetime Mortgage?

You can choose how to access your funds:

Lump sum – receive a single payment upfront.

Drawdown – release smaller amounts over time as needed, helping reduce how much interest builds up.

Can You Borrow More Later?

Many plans offer a reserve facility (drawdown option), letting you access more funds in the future without taking a new mortgage — perfect if you want flexibility for home improvements, future care, or helping family.

Things to Think About

Before deciding how much to release:

Borrow only what you need — it affects how much inheritance you can leave.

Consider future care costs or moving plans.

Explore alternatives like downsizing or retirement interest-only mortgages.

Get Independent Lifetime Mortgage Advice

Every homeowner’s situation is different, and the right plan depends on your age, property, health, and goals.

At Chetwood Lloyd Mortgages, we’re independent and fee-free — so you’ll always get clear, impartial advice and access to the best rates across multiple providers.

👉 Find out exactly how much you could release from your home today — get in touch and we’ll guide you every step of the way.