Legal & General - Flexible Yellow
Roll up Lifetime Mortgage
Rate: 2.91%
APR: 3.00%
Incentive Deal:
Offers: Free Unlimited Valuation | NO Arrangement Fee Option* | 2% Cashback Option** | 10% Optional Partial Repayment with NO penalty | Inheritance Protection Option

Legal & General Home Finance entered the equity release marketplace in early 2015 by acquiring existing equity release provider Newlife who had been providing equity release products since 2003. Since takeover, Legal & General have launched the Flexible Yellow Lifetime Mortgage with new features and with funding now solely by Legal & General.

The Legal & General Flexible Yellow Lifetime has similar features to the Flexible Pink Plan, but with a higher rate & offers a higher loan-to-value ratios.

This is a drawdown lifetime mortgage scheme which is available on a single and joint life basis from the age of 55 and upto a maximum age of 90.

The Flexible Yellow Lifetime Mortgage will accept applications with a minimum property valuation of £100,000, and ex-council houses must have a minimum valuation of £100,000. Flats & maisonettes are accounted for at 85% of their valuation when calculating the maximum equity release possible.

Properties will be considered when situated in England, Wales & mainland Scotland upto £2 million in value. The exception to this is in London where properties can be considered upto a maximum of £4 million in value. However, Legal & General will consider property values in excess of this on a case-by-case basis. Hence please call the Compare Equity Release team on 0800 678 5169 for clarification.

This Legal & General Flexible Yellow drawdown scheme has a minimum initial cash advance of just £10,000 and L&G have a maximum loan size of £750,000.

All Legal & General lifetime mortgage plans now include Downsizing Protection to all existing and previously arranged plans.

This means should you move home after 5 years following the start date of the L&G lifetime mortgage the loan can be repaid without any early repayment charge. This is so long as the property they are moving into doesn’t meet L&G’s property lending criteria.

There is no capping placed on the size of the reserve facility which means the Newlife plan has one of the highest facilities available in the equity release market. Withdrawals from the cash reserve facility have a minimum of £2,000 and come without any further admin fees.

Features included with the L&G Yellow Plan includes the Optional Partial Repayment feature which allows upto 10% repayments each year based on the original amount borrowed with NO penalty. This enables management of the future balance possible.

Many clients opt to either repay the interest only, thus maintaining a level balance, or even take up the full 10% option & actually reduce the balance of the mortgage effectively repaying it completely over a period of 15-16 years.

The Legal and General Flexible Yellow Lifetime Mortgage aims to provide a low equity release interest rate than most other equity release plans. Therefore, should a lower interest rate & maximum reserve facility be necessary the L&G Flexible Yellow Lifetime Mortgage maybe a solution.

*The L&G Flexible Yellow plan is available with & without arrangement fees. Choosing the NO arrangement fee option is available until further notice.
**selecting the 2% cashback option will increase the interest rate by 0.2%.

Call the Compare Equity Release team on 0800 678 5169 for further details or request your Legal and General Flexible Yellow Key Facts Illustration.
These are lifetime mortgages and home reversion plans. To understand their features and risks, ask for a personalised illustration.


  • All schemes are authorised and regulated by the FCA
  • Continued ownership of 100% of your home
  • Interest rates sourced from the whole of the market
  • Continued benefit from future house price increases
  • Special deals with incentives to save you money
  • Free initial advice with no commitment or credit checks

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These are lifetime mortgage & home reversion plans. To understand the risk & features of these plans, request a personalised Key Facts Illustration. helps you to compare and arrange equity release schemes from the whole of the equity release market:

Aviva | Bridgewater | Hodge Lifetime | Just Retirement | LV= | more2life | One Family | Retirement Advantage | Pure Retirement L&G Crown