Scottish Widows

Scottish Widows is a household brand that are recognised as one of the strongest life and pensions companies in the UK. Originally started in 1815 as a mutual, it now looks after 6 million UK customers helping them plan their future finances under the Lloyds Banking Group umbrella.

In 1995 Scottish Widows Bank was launched. It offered customers a range of mortgage products which included a period in the early 2000’s of providing lifetime mortgage products.

In addition, Scottish Widows took over the running of the popular Halifax Retirement Home Plan, which was withdrawn by Halifax in August 2011 – a precursor to today’s RIO mortgage.

Scottish Widows re-entered the equity release market in 2020 and only use a select number of brokers of which Equity Release Supermarket is proud to be one.

The product range includes both drawdown and lump sum lifetime mortgages all of which come with fixed early repayment charges over the first 10 years.

Plans are available between the ages 55 to 85 with a fixed interest rate for life. A free valuation and £600 cashback assists with your set-up costs.

The Scottish Widows equity release calculator will advise the maximum amount of borrowing that’s available between these ages.

Remember, your local independent adviser is always on hand if you have any questions about this Scottish Widows lifetime mortgage.