Standard Life Home Finance introduces enhancements to Horizon lifetime mortgage criteria

19 March 2025

19th March 2025 – UK later life lender, Standard Life Home Finance, has announced a series of enhancements to the criteria on its range of Horizon lifetime mortgages.

The criteria enhancements come into effect immediately, and will broaden the type of properties which could qualify for the Standard Life Home Finance Horizon range.

Standard Life Home Finance’s Horizon range provides lump sum and drawdown options, available at a range of LTVs, including clients with high property values. It includes fixed early repayment charges for eight years, with loans available from £15,000 to £1.5 million.

On lump sum plans, clients can take advantage of Horizon Interest Reward, allowing them to secure an interest rate discount for the duration of the lifetime mortgage when committing to making set monthly interest payments for a specified term.

The criteria changes cover a range of areas, including:

Residency

Remortgages within six months of the last purchase date may be considered subject to a suitability assessment.

Roofing

Roofs which have previously been treated internally or externally with spray foam will be acceptable, so long as it has been removed prior to completion. There are further requirements provided on referral.

Service charges, estate charges and ground rent

Positive updates including amendments to what can be considered as maintenance under the estate charge and amendments to private drainage.

Proximity to commercial properties

Standard Life Home Finance will consider cases where there is a commercial presence within the vicinity of the property, based on assessing the locality and nature of the commercial unit and its impact on the property.

Sanjay Gadhia, Head of Sales at Standard Life Home Finance, said:

“We are passionate about bringing the benefits of the Horizon range to as many later life customers as possible, and these enhancements will allow us to do just that. The new criteria opens up our lifetime mortgages to cater for a broader range of properties, ensuring Standard Life Home Finance can deliver its tailored solutions to a greater number of homeowners.

“These criteria enhancements have been introduced following close discussions with our adviser partners, and address a clear need among their clients. We will continue to review our criteria to ensure Horizon remains the go-to solution for later life advisers and their clients.”

For more information on Standard Life Home Finance and its product range, please visit www.standardlifehomefinance.co.uk