Just Just For You Lifetime Mortgage

Are You Considering the Just For You Lifetime Mortgage Scheme? What are the Eligibility Requirements, Features, Interest Rates & Scheme Options? Discover If This Equity Release Plan Is For You.

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Just For You Lifetime Mortgage Key Details

Type Rate APR
Just Fixed 3.44% 3.40%

Scheme Incentives

  • Cashback
  • Free Valuation
  • Free Application

Scheme Offers

  • 3-Year No Early Repayment Charge
  • Upto 10% Voluntary Payments
  • 5x LTV Tier Options
  • Medical Enhancements
Just Just For You Lifetime Mortgage

Just For You Lifetime Mortgage Review

I think you’ll agree with me when I say:

It’s REALLY hard to choose the best equity release scheme with all the choices available.

Or is it?

Is the Just Just For You Lifetime Mortgage, equity release scheme the best?

Don’t let your equity release dream become a nightmare!

Luckily, we’re here to guide you on the in’s and out’s of equity release, as you deserve only the best.

However, not all plans are suited to each individual. You need to look for one that will serve your home, your lifestyle, and the reason why you’re considering equity release in the first place.

As leading experts in the field, we’ve delved into hours of research, unpacked all the equity release plans on the market (we’ve reviewed over 250 schemes!), and discovered the best in the business.

Could the Just Just For You Lifetime Mortgage be the right equity release plan for you?
We’re here to help you:
Just is one of the leading equity release providers on the market and might just be the answer you’ve been looking for.
Can you truly go wrong with Just?
Let’s find out!

What's Equity Release & How Does It Work?

We've summed up the most important information about the topic in this quick video.

An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care. The homeowner’s family usually pays back the cash released, and the interest incurred, from the sale of the home in question.

Equity release is available for individuals or couples over 55, with the youngest homeowner’s age determining the amount of equity that can be released. It is important to note that some equity release schemes may require the homeowner to be 60 or older.

Learn More: What’s Equity Release & How Does It Work?

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Most popular reasons for releasing equity

Who Are Just?

They have a strong social mission and are a lighthouse in the financial services industry. Just also offers products and services that assist clients in living a better later life, and believes that financial intermediaries are best positioned to assist people with the decisions they must make in order to do so.
Learn more about the various Just equity release schemes..

Scheme Background

With Just Retirement you’ll gain the advantage from choosing an established lifetime mortgage lender with a strong presence in the post retirement marketplace.

More than providing retirement income via annuities, Just Retirement also lends money in the form of equity release schemes through their own equity release funding model. And, beyond lending they are a funder to other equity release companies.

Just Retirement lets you enjoy traditional roll-up lifetime mortgages ranging from drawdown, lump sum and interest only lifetime mortgages to enhanced lifetime mortgage plans.

‘Just For You’, their lifetime mortgage plan gives you the chance to custom design your own equity release scheme. For example, you could create a drawdown facility which will provide access to extra cash withdrawals in the future, if required.

Or benefit from one plan that can integrate multiple features which can be individually selected based on your requirements. There are five loan-to-value tiers, each of which will determine the level of borrowing available and the interest rate charged.

With this and more, Just Retirement has proved its strength in the increasingly competitive lifetime mortgage marketplace.

Eligibility & Requirements

The Just For You Lifetime Mortgage – Drawdown option provides a variety of interest rates and choices, all of which impact the final interest rate paid.

The Just For You – Drawdown Lifetime Mortgage is offered on a single and joint life basis, as well as tenants in common.

The youngest allowable age for any homeowner is 55, and there is no maximum age limit at initiation when choosing the drawdown option.

Minimum Property Valuation

The Just For You Lifetime Mortgage requires a minimum property appraisal of £70,000, with no maximum valuation limit.

Property Location Requirements

Only homes in England, Wales, and Scotland that are the primary residence of the owner will be accepted. They are one of only two lenders in Northern Ireland who provide equity release plans.

Certain limitations may apply to homes in Northern Ireland.

Single vs Joint

Just lifetime plan updates are still in the works. We will give an update soon.

Minimum Release

The lowest first cash advance on this lifetime mortgage with Just is £10,000, with a maximum loan of £1,000,000 in England, Scotland, and Wales, but only £250,000 in Northern Ireland.

Scheme Features

The Just For You – Drawdown Lifetime Mortgage allows you to select a retirement strategy that will allow you to access a cash reserve facility in the future. This will assist in funding one-time costs as they arise, without the need for additional borrowing.

Just will include a drawdown facility into the plan if you pick the Cash Facility option. As a result, after the maximum loan amount has been determined based on age and property worth, Just will offer a drawdown arrangement depending on the funds remaining after the first lump payment has been taken.

This reserve has a maximum drawdown capability of £200,000, with a minimum withdrawal amount of £2,000 per withdrawal and no administrative fee.

By selecting this Cash Facility, the interest rate and subsequent cash withdrawal rates will be enhanced by 0.1 percent in comparison to the normal conditions.

Valuation Features

Just provide a generous unlimited free valuation and a predetermined lifetime equity release UK interest rate.

Early Repayment Feature

Just lifetime plan updates are still in the works. We will give an update soon.

Equity Release Council Status

Just subscribe as members of the Equity Release Council, and therefore their plans feature a No Negative Equity Guarantee. As a result, the homeowners’ beneficiaries cannot be left with a personal obligation to this home equity release firm once the house is sold.

Joint Application Features

Just lifetime plan updates are still in the works. We will give an update soon.

Scheme Options

Since the Just For You Lifetime Mortgage allows you to create your own plan, you can include features other than the drawdown facility. These choices must be chosen prior to the plan’s offer and induction.

Making monthly payments is one of these possibilities. These payments are only available at the start of the plan and are dependent on your personal budget.

Just give interest rate tiers for monthly payment alternatives ranging from 0.01 percent off if servicing up to 25% of the monthly interest amount to 0.30 percent off if servicing between 75.01 percent and 100% of the monthly interest amount.

Just impose a minimum payment amount of £25pm toward the program, or up to 100% of the monthly interest charged. Payments can be paid on the first or fifteenth of each month.

Unlike traditional mortgages, which need repayments to be made at all times, the Just For You Lifetime Mortgage allows for payment holidays – with limits. Each 12 month term allows for one payment holiday of up to three consecutive months. Any missed payments will be added to the loan sum and compounded.

Payments under the Just For You plan can also be halted at any moment with no financial consequence. Payments, however, cannot be resumed after they have been halted. The plan will thereafter operate like a roll-up lifetime mortgage, with the interest rate raised by the initial discount offered at the beginning.

If the Interest Servicing option is not chosen, there is alternative means of making repayments with greater freedom. This is accomplished through the voluntary payment option, which allows for the repayment of up to 10% of the initial loan amount without penalty each year.

Again, as with the interest-serviced alternative, no evidence of income is necessary to make voluntary payments, and Just does no affordability checks.

If the youngest applicant has a history of poor health, the medical history might be considered when determining the terms of the lifelong mortgage. This medically upgraded option comes with monthly payments as well. The larger the possible lump amount, the worse the severity of the disease. Again, Just’s underwriters will modify the interest rate appropriately.

Repayment Options

Selecting 100 percent interest repayment will really keep a constant mortgage balance throughout the period, effectively managing the plan as an interest-only lifetime mortgage.

Another element that will assist joint homeowners is the three-year window of opportunity for penalty-free repayment if one spouse dies or moves into care. In this case, the survivor gets three years to repay the equity release loan without incurring any early repayment penalties.

Inheritance Protection

Just lifetime plan updates are still in the works. We will give an update soon.

Application Fees

Just allow no more than six payments in each 12-month period, with a minimum of £500 each time. Following any payment, there must be a minimum total amount of £10,000 left.

If the cash reserve facility is entirely utilized, more borrowing may be available. Any further advances will be charged at the interest rate in effect at the time of each withdrawal.

Cashback Options

Just lifetime plan updates are still in the works. We will give an update soon.

Footnotes

*Depending on age and loan-to-value, the Just For You Lifetime Mortgage provides various cashback options and application costs ranging from £0 to £600.
**The mentioned rate is for homeowners aged 55 and up who make no payments.

Just's Other Equity Release Schemes

Are you looking for a specific equity release scheme?

These are some of the schemes offered by Just.

Not what you're looking for?

Have a look at all the equity release schemes available on the market, with our easy to use table!

Contributors: Nicola Date, Katherine Read
Reviewed by Francis Hui

What people say

You are the best. You delivered what you mentioned you would that was much better than anybody else. I can not rate you highly enough!!
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Brenden
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I'd like to commend the excellent support we received from you guys in our recent equity release application, which proceeded faster than we could have hoped. Thank you so much.
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Margaret Doyle
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I have to say my experience with SovereignBoss was positive from start to finish. The level of customer service I received from John was simply outstanding, thank you!
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Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations.

Contributors: Nicola Date, Katherine Read
Reviewed by Francis Hui

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Rachel Wait
Personal Finance Journalist

Rachel is an experienced finance journalist and editor with a particular interest in personal finance and consumer affairs. She has vast experience writing about money issues, property, insurance, and consumer affairs, and you’ll find her articles regularly featured in top media and newspaper publications.
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John is passionate about education and has made it his life-long mission to assist UK citizens on their future financial options, with a specialist interest in equity release, and SovereignBoss is the natural extension of this passion.
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Having held various high-level roles across the industry, Francis is truly an expert in aiding UK citizens in their financial decisions and risk analysis. His unique insight and statistical knowledge make him the perfect person to help you take your financial future to the next level.
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Financial Planning Reporter

Since joining the editorial team at SovereignBoss, Katherine has become focused on bringing transparency to finances and opportunities for those approaching retirement age. She writes on the topics of equity release, home reversion, and mortgages.
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Nicola is a financial writer for SovereignBoss and is passionate about the opportunities that equity release can open up for homeowners. Her extensive business experience and deep understanding of the industry means that she’s always up-to-date with the latest developments.

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