Legal & General - Flexible Plus Lifetime Mortgage
Roll up Lifetime Mortgage
Rate: 4.08%
APR: 4.20%
Incentive Deal:
Offers: Free Unlimited Valuation | NO Arrangement Fee Option* | 2% Cashback Option** | 10% Optional Partial Repayment with NO penalty | Inheritance Protection Option | Rate based on UK Location***

Legal & General 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 Plus Lifetime Mortgage with new features and with funding now solely by Legal & General.

The Legal & General Flexible Plus Lifetime has similar features to the Flexible 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 Plus Lifetime Mortgage will accept applications with a minimum property valuation of £100,000, and ex-council houses must have a minimum valuation of £150,000. 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 £2million in value. The exception to this is in London where properties can be considered upto a maximum of £4million 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 drawdown scheme has a minimum initial cash advance of just £10,000 and L&G have increased their maximum loan size since Legal & General acquired them to £750,000.

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.

New features included with the L&G backed launch has been 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 Plus Lifetime Mortgage aims to provide a low equity release interest rate than most other equity release plans. Therefore, should a low interest rate & maximum reserve facility be necessary the L&G Flexible Plus Lifetime Mortgage maybe a solution.

*The L&G Flexible plan is available with & without arrangement fees. Choosing the NO arrangement fee option is available until further notice.
**selecting the 2% cashback option will affect interest rate applied.
***The rate shown applies to properties situated outside London an the South-East England

Call the Compare Equity Release team on 0800 678 5169 for further details or request your Legal and General Flexible Plus 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