Reviewed 19th August 2026
Yes. On a plan that meets Equity Release Council standards, you keep the right to live in your home for life. You also keep the right to move and take the plan with you to a suitable new property. Both are subject to the plan’s terms and lender criteria. Here’s what each situation looks like.
In short: a lifetime mortgage doesn’t tie you to one house. You can stay, move and take the plan with you, or repay it. Each is subject to the plan’s terms — and if you move, to the new property meeting lender criteria.
Stay
Your right to live there continues for life, as long as you keep to the plan’s terms.
Move
Transfer the plan to a suitable new property, subject to the plan’s terms and lender criteria.
Repay
Repay in full at any time. Early repayment charges may apply, depending on the plan and the timing.
New to the product? Start with how equity release works, or how the modern product compares with older ones.
If you stay
You remain the legal owner of your home. The lender holds a charge over it, as with any mortgage, but the home is yours. Your right to live there continues until you either pass away or move into long-term care. As long as you keep to the plan’s terms, a growing balance alone is never a reason you can be asked to leave.
If you move
Plans meeting Equity Release Council standards include the right to transfer the loan to a suitable new property. “Suitable” is the lender’s criterion, and some property types may not qualify, so it is checked at the time. If you move to a lower-value home, you may need to repay part of the loan. Your adviser will set out exactly how that works for your plan before you commit to anything.
If you want to repay entirely
You can usually repay the loan in full at any time. Early repayment charges may apply, depending on the plan and the timing. We set these terms out at the start, so a charge is never a surprise.
Risk warning. Equity release will reduce the value of your estate and may affect your entitlement to means-tested benefits. A lifetime mortgage is a loan secured against your home. To understand the features and risks, ask for a personalised illustration.
Want to know how the moving and repayment terms would work for you? You can speak to an adviser, with no obligation, in your own time.
Frequently asked questions
Can I move house if I have a lifetime mortgage?
Usually, yes. On plans meeting Equity Release Council standards you have the right to move and transfer the loan to a new property. The property must be suitable to the lender, and you must keep to the plan’s terms. If you move to a lower-value home, you may need to repay part of the loan. Your adviser explains how this works for your plan before you commit.
What happens if the amount I owe grows larger than I expected?
On a lifetime mortgage the balance grows because interest is added over time, but a growing balance alone does not put your home at risk. As long as you keep to the plan’s terms, you keep the right to live there. That continues until you either pass away or move into long-term care. On plans meeting Equity Release Council standards, you would never owe more than your home sells for, provided the plan’s terms are met.
Can I repay a lifetime mortgage early?
You can usually repay in full whenever you choose. Early repayment charges may apply, depending on the plan and the timing. Many plans also allow voluntary partial repayments within yearly limits, without a charge. Your adviser will show you the terms that apply to your plan.
This article was last reviewed and dated 19th August 2026. We review it periodically to keep the regulatory detail current.
