Not sure their age should be a problem since the lifetime mortgage was designed for people their age. It was one of Halifax's Retirement Home Plan products.

Hi Thanks for your suggestions. I did have a look through that last night, but nothing jumped out.

Hi My paents (mid and late 70's) have an interest only lifetime mortgage which they took out on a 2 year fixed rate. After the fixed rate period it was to revert to Halifax Standard Variable Rate (svr). Shortly before the expiry of the fixed rate period, Halifax wrote confirming the expiry date and telling them they could switch to one of the current fixed rates, as existing customers coming to the end of their deal. I submitted the application for them on line. They were told they would be called. They weren't, so I arranged a branch appointment. At the branch, they were told it couldn't be dealt with there as its a lifetime mortgage and Halifax isn't doing them anymore, but someone from that department would call. They did, but my parents were told that they couldn't switch to a new fixed rate because Halifax no longer does this type of mortgage. They have to either stay on the svr, which is, of course, variable, or re-mortgage - Scottish Widows was suggested. I've checked SW's web site - nothing on there about lifetime mortgages and as I understand it, they withdrew from that market before Halifax. SW do offer the same fixed rate that my parents wanted from Halifax (they're in the same group, namely Lloyds Banking Group), but it carries a £999 fee, whereas Halifax has no fee. However, I can't see why Halifax won't switch the rate. I can't see that the fact that they no longer offer lifetime mortgages is relevant at all. Indeed, their web site specifically has a section for existing mortgage customers and it says that if your deal is coming to an end or you're on the svr, you can switch to one of our fixed rates. No qualifications. The end result is that Halifax is happy to let them stay, but on the svr, even though its a mortgage type that they no longer offer. But it won't let them stay and switch to a fixed rate, because it's a mortgage type that they no longer offer. I can't see the logic and I can't see how this squares with this duty to treat customers fairly which has been bandied round recently. How is it fair to force them to stay on the svr when every other customer on the svr can switch to a fixed rate? It seems that Halifax is trying to force them to re-mortgage elsewhere because they don't want this product on their books anymore, or will punish them for staying by keeping them on the svr. They could save £40 a month on the fixed rate as opposed to the svr, not to mention the peace of mind. The only other lifetime mortgage provider I could fine will charge twice the interest rate. I've queried this with Halifax but have been told that I need to speak to the lifetime mortgage department who don't take calls, they only make calls, so I have to wait 48 hours (only working days count) for a call back. They said its because the department is very busy - funny, since I've been reading in newspapers articles that date from the time they withdrew the product that it only represented a very small part of their business. By the way, my parents were never informed that Halifax was withdrawing from this market and how it would affect them in the future. Again, seems to conflict with one of the six outcomes for the policy of treating customers fairly. Has anyone had any similar experience? I'm thinking of making a formal complaint.