If you’re going into long-term care and hold a mortgage with us then you can find out what to do below, the process will depend on whether you hold a joint mortgage or a single mortgage.

It’s worth noting we’d need to receive full redemption funds within 12 months of the date the last surviving customer goes into long term care or passes away.

Joint mortgage

If you hold a joint mortgage, and one party is still living in the property then nothing will happen until that person moves into long term care or passes away. We will require written confirmation from the care home that you have taken up residency so we are able to update your account. No further actions are required as the mortgage obligations are retained by the remaining mortgage holder.

Single mortgage

After the last mortgage holder moves into long term care or passes away the mortgage becomes due for redemption. Usually, the outstanding balance is redeemed through the sale of the mortgaged property. On receipt of the full redemption funds, we discharge our interest in the property and it’s title at the Land Registry.

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Get in touch with our mortgages team

If you want to let us know that you are going into long term care, you can phone us on 0800 731 4076 or email us using the link below.

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