Guaranteed Inheritance Lifetime Loan

Enabling you to ring fence 20% of your home's equity

With a Guaranteed Inheritance Lifetime Loan you will retain 20% participation in the ultimate net sales proceeds of your property when it is sold

What is a Guaranteed Inheritance Lifetime Loan?

Similar to our Standard Lifetime Loan,  a “Guaranteed Inheritance Lifetime Loan” enables you to release a cash lump sum from your principal private residence, tax free, without having to sell it.  You retain full ownership of the property and continue to live in it for as long as you wish.   It has all the same features of our Standard Lifetime Loan, in addition to helping you to protect 20% of your home's equity.  This ensures that there is always 20% equity for you to leave as an inheritance, to cover the cost of future care needs or for any other reason.

In protecting 20% of your home's equity you will pay a small premium, i.e. a higher interest rate (6.80%) compared to the Standard Lifetime Loan (6.70%).  The maximum amount of equity you can release will also be lower.

It’s important to decide which type of equity release is most suitable for you, to meet your needs for now and in the future.

Important Considerations with a Guaranteed Inheritance Lifetime Loan

  • If you choose to protect 20% your home’s value as equity, the maximum amount you can release will also be reduced by 20% versus our Standard Lifetime Loan
  • You are not protecting a static monetary amount, but a percentage of your home’s value at the point which it is sold
  • If your property’s value increases over time, the amount protected and equity left will also increase
  • Similarly, if your property’s value decreases over time, the amount protected and equity remaining will decrease
  • The interest rate charged for the Guaranteed Inheritance Lifetime Loan is slightly higher and will cost you more over time than the Standard Lifetime Loan
  • The amount protected is covered by the Spry Finance 20% Equity Guarantee

Eligibility Criteria

  • You must own your own residential home (primary residence) in the Republic of Ireland
  • You must be aged 60 years or over. If there are two of you, the younger person must be aged 60 or older
  • Your property must have a minimum value of €175,000 outside of Dublin or €250,000 in Dublin

How much can I borrow?

  • The minimum loan size is €20,000
  • The amount you can borrow is calculated as a percentage of your home’s value and depends on your age
  • Customers aged 60 may borrow up to a maximum of 12% of the value of the property, which is slightly less than a Standard Lifetime Loan at 15%
  • The maximum loan size is €500,000 regardless of your age
  • You can choose to make Optional Repayments should you wish to do so

Green Guaranteed Inheritance Lifetime Loan

To find out more?

For more details on how much equity you can release with a Guaranteed Inheritance Lifetime Loan please contact our Spry Finance Customer Care team on 01 5822 570.

If you would like to estimate how much money you could release from your home with a Standard Lifetime Loan, use our equity release calculator »

Note: It is important to remember you are protecting a percentage of the value of your home, not a monetary amount.