A Lifetime Loan is a mortgage loan secured against your home.

You do not sell a share of your home. You borrow a cash sum using your house as security. You can use this money as you wish.This type of mortgage is designed to last for the rest of your life. This is a loan secured against your home.

Key features of the loan:

  • You retain full ownership of your home and continue living in it for as long as you wish
  • Regular repayments are not required, but are optional
  • Interest is added to the loan balance monthly
  • The loan grows over time if he customer chooses not to service the interest payments
  • No Negative Equity Guaranteed 

For more information:

First Choice Financial Services DAC can determine your suitability (or otherwise) for this product.

Paul Kerr LIB QFA APA
Consultant – Debt Management Services | Regulated Debt Manager

Legal Warnings

The following warnings contain important and useful information so please read them carefully.

For Lifetime Loans:

WARNING: WHILE NO INTEREST IS PAYABLE DURING THE PERIOD OF THE MORTGAGE, THE INTEREST IS COMPOUNDED ON A MONTHLY BASIS AND IS PAYABLE IN FULL IN CIRCUMSTANCES SUCH AS DEATH, PERMANENT VACATION OF OR SALE OF THE PROPERTY.

WARNING: PURCHASING THIS PRODUCT MAY NEGATIVELY IMPACT ON YOUR ABILITY TO FUND FUTURE NEEDS.

WARNING: YOUR HOME IS AT RISK IF YOU DO NOT KEEP UP PAYMENTS ON A MORTGAGE OR ANY OTHER LOAN SECURED ON IT.

WARNING: YOU MAY HAVE TO PAY CHARGES IF YOU PAY OFF A FIXED-RATE LOAN EARLY.

If your Lifetime Loan is being used for debt consolidation purposes:

WARNING: THIS NEW LOAN MAY TAKE LONGER TO PAY OFF THAN YOUR PREVIOUS LOANS. THIS MEANS THAT YOU MAY PAY MORE THAN IF YOU PAID OVER A SHORTER TERM.