If you repay a Lifetime Mortgage early you may have to pay an Early Repayment Charge.  These charges can be quite expensive, but before you take your plan out, your adviser will highlight what these charges may be.

Most Equity Release plans are intended to be long-term options, and you should make sure that you tell your adviser when you take out your plan if you think there might be circumstances in which you might want to repay your loan early.