Lifetime mortgages have interest attached to them. Where Lifetime mortgages differ to traditional mortgages in terms of interest, is how the interest is paid. There are several options to choose from, you can opt to pay the interest in full each month, you can opt to pay some of the interest each month, you can opt to pay the interest some months and not others. Alternatively, you can opt not to pay the interest at all, and simply add it to the loan. At the end of your equity release plan, the original loan is repaid along with any unpaid interest which has accrued.