Terms and conditions

Terms, conditions and eligibility for features provided with the Saga Lifetime Mortgage

These are the terms on which the Money Back Guarantee and the Saga Service Promise are provided. They will form part of the contract between you and Just for a Saga Lifetime Mortgage. A lifetime mortgage is a loan secured against your home. 

If after taking advice you decide to take out a Saga Lifetime Mortgage you'll need to pay an advice fee of £799.

If you have any questions about these terms and conditions, or about Saga Equity Release, please call the team on  0800 096 7120. Lines are open Monday to Thursday, 9am to 8pm, Friday 9am to 5:30pm and Saturday 10am-3pm (excluding bank holidays).

Money Back Guarantee

The Money Back Guarantee allows you to repay your Saga Lifetime Mortgage within six months of the completion date of your initial advance, with no early repayment charges or interest applied.

The Money Back Guarantee is only available to Saga Equity Release customers who have purchased a Saga Lifetime Mortgage, provided by Just.

In order to be eligible for the Money Back Guarantee:

• You must contact and inform Just of your intention to repay your lifetime mortgage within six months of the completion date of your initial advance;
• The amount of your initial advance must not be greater that £150,000;
• You must not have released any additional funds from any pre-agreed cash facility stated within your offer letter;
• You are repaying your lifetime mortgage voluntarily (the guarantee does not apply if the lifetime mortgage is repaid on death or entry into long-term care);
• You have adhered to the Terms and Conditions of the Saga Lifetime Mortgage and can prove the source of funds for your repayment. The Saga Lifetime Mortgage cannot be used for bridging finance or investment purposes.

Please note, the Money Back Guarantee will only cover fees and charges from Just and HUB Financial Solutions Limited. Any third party costs incurred by you outside of those charged by Just and HUB Financial Solutions Limited (for example independent financial adviser and legal costs) will not be repaid by the guarantee.

The Saga Service Promise

Just will aim to release your initial advance funds to your legal adviser's account within 40 working days of your application being received and accepted. If this doesn’t happen and the criteria below has been met, you will receive a payment of £100. This payment will be paid following completion of the Saga Lifetime Mortgage.

The Saga Service Promise is only available to Saga Equity Release customers who have purchased a Saga Lifetime Mortgage provided by Just.

The 40 working day period applies from the date your application form and standard supporting documents are received and accepted by Just.

The Saga Service Promise will apply to you if:

• You are re-mortgaging your existing property (if the Saga Lifetime Mortgage is being used to purchase a new property, the promise will not apply);
• We don’t need to request a General Practitioners Report (GPR) if you have applied and selected the medically underwritten option;
• Your property is registered at the Land Registry in your full and correct names;
• Your property is a standard property and does not require a further valuation, lease extension, have any title queries or non-standard title restrictions. Your adviser can confirm if your property is considered a 'standard' property;
• Your property does not require any specialist reports (including EWS1), works or warranties required as a condition of the offer;
• You’re available for a valuer appointment within 5 working days of contact from Just's surveyors;
• Your legal adviser completes all legal documentation correctly and in full and ensures it is received by Just's conveyancer within 10 working days of the offer.