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Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →If you have a lifetime mortgage, selling the home it is secured against usually means repaying the outstanding loan and accrued interest from the sale proceeds. A move to another home may be possible if the lender approves that property as security. Moving permanently into long-term care can also bring repayment due, but the outcome depends on the plan and whether a spouse, partner or joint borrower can remain in the home.
First, check which type of equity release you have
The term “equity release” can describe different arrangements. The usual rules about repaying a loan when you sell apply to a lifetime mortgage; they do not describe a home reversion plan.
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Lifetime mortgage
A lifetime mortgage is a loan secured against your home. Depending on the plan, interest may be added to the balance or you may make interest payments. The loan is generally repaid when the plan ends, commonly after the home is sold following death or a permanent move into long-term care. MoneyHelper explains how equity release works.
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Home reversion
With a home reversion plan, you sell all or part of your home, usually for less than its market value, and retain a lifetime tenancy under the contract. It is not a loan that simply transfers to another property, so ask the provider what happens to your tenancy and the share it owns if you sell or move. MoneyHelper’s guide to home reversion plans sets out this distinction.
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What happens if you sell your home?
For a lifetime mortgage, the sale normally triggers repayment of the amount outstanding, including any interest accrued. The balance is paid from the sale proceeds. The amount left for you depends on the redemption balance, sale price, sale costs and any applicable fees or early repayment charge. Request a current redemption statement from the provider before committing to a sale; ask how long the figure is valid and what steps and deadlines apply. MoneyHelper’s equity release guidance advises checking the terms and costs.
If the home sells for less than the balance, check whether your plan includes a no-negative-equity guarantee. Where that safeguard applies, you or your estate will not owe the remaining shortfall after the property is sold and sale costs are paid. Do not assume it is included without checking your contract. MoneyHelper describes this protection.
Can you move the loan to another home?
Possibly. This is often called transferring or “porting” the plan, but the existing mortgage does not automatically follow you. The provider must accept the new property as continuing security. The Equity Release Council’s product standards provide for a right to move to another property only where the provider accepts it. A property that is unsuitable under the provider’s criteria may not be approved. See the Council’s product standards.
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Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallGet the provider’s decision and any conditions before exchanging contracts on the new home. Ask whether the loan can continue unchanged, whether a different balance or terms would apply, and what happens if the proposed property is not accepted.
What if you are downsizing?
Downsizing does not automatically let you repay early without a charge. Some lifetime mortgages include downsizing protection: if you meet the plan’s conditions and the replacement home does not satisfy the provider’s criteria, the feature may allow repayment without an early repayment charge. Eligibility, any qualifying period and other conditions vary by plan. In other early-repayment situations, an early repayment charge may apply. The Equity Release Council explains early repayment charges.
Ask the provider to confirm in writing whether your plan has downsizing protection, when you qualify and what evidence or process it requires. Do not base a moving decision on the feature’s name alone.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What happens if you move permanently into care?
A permanent move into long-term care can bring a lifetime mortgage to its repayment point, with repayment usually made from the sale of the home. But it does not follow that every care-related absence means the home must be sold immediately. The Equity Release Council’s guidance says the usual sale scenario depends on whether a spouse or partner remains entitled to live in the property; the contract determines the applicable rights and trigger. Read the Council’s guidance on later-life circumstances.
Distinguish a permanent long-term-care move from a temporary absence, such as a hospital stay or respite placement. The available guidance does not establish one universal rule for every temporary situation. Ask the provider how your contract defines a permanent move, when repayment becomes due and what happens if another borrower or eligible partner remains in the home.
Conditional waiver of an early repayment charge
Equity Release Council standards effective 6 May 2025 describe a waiver of an early repayment charge for a permanent move into long-term care when the provider receives the required medical practitioner’s certificate and the loan terms are met. This is conditional, not an automatic waiver for every product or care move. Confirm the plan’s requirements, acceptable evidence and process with the provider. The Council’s announcement of the standards gives the effective date and condition.
What to ask the provider before you sell or move
Contact the provider early, or ask an authorised representative to do so if you cannot manage the enquiry yourself. Request written answers to the questions that apply to your plan:
- Is the product a lifetime mortgage or home reversion plan?
- What is the current redemption figure, and when does it expire?
- What fees, sale or transfer deadlines, and early repayment charges could apply?
- Can the proposed new property be accepted as security, and must approval be obtained before exchange?
- Does the plan include downsizing protection, and what are its qualifying period and conditions?
- How does the contract define a permanent move into care, and what medical evidence is required?
- Can a spouse, partner or joint borrower remain in the property, and how does that affect repayment?
- Does the plan include a no-negative-equity guarantee?
If you are weighing up repayment, moving or another way to fund care, MoneyHelper recommends considering alternatives and speaking to an adviser. The Equity Release Council also provides a directory of member firms and advisers.
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