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Lifetime Mortgages
Ask how much you can borrowA lifetime mortgage is the most popular form of equity release: it is a loan which is secured against your home. In other words, you are using the value of your property as security for releasing tax-free cash tied up in your home. The loan is repaid out of the future sale of the property, the loan is repaid when you or the last surviving applicant dies or moves into long term residential care.
No monthly repayments
Typically there are no monthly repayments to make as the loan plus roll up interest is repaid when the plan comes to an end. However, some providers have the option of paying all of the interest and some of the capital on an ad hoc basis.
Interest
Interest is rolled up, added to the loan and is repaid when the plan ends. Lifetime mortgages are for life, as the name suggests – there is no set term – so that you can enjoy the peace of mind that comes from knowing that you can stay in your family home until you or the last surviving applicant dies or moves into long term residential care.
Property value
Over time, the loan will increase in value, with the addition of rolled up interest, but this can be offset if the value of your property increases at a higher rate. We would recommend speaking to a specialist equity release adviser, who can explain the impact if your property increased or decreased in value over time.
What my customers say about working with me
“A couple in their late 60s were happy to use equity release to clear their mortgage and give them a better quality of life. They were really impressed with the service provided for them by Kevin, his assistant Samantha and their associated equity release solicitors. 'It was all very speedy and efficient with no problems at all. Even though we were overseas during much of the process, we were kept informed throughout and always treated respectfully. Kevin is efficient, friendly and professional and we have been really pleased with everything he has done for us.'”
A couple in their late 60s
What my customers say about working with me
“A couple in their late 60s were happy to use equity release to clear their mortgage and give them a better quality of life. They were really impressed with the service provided for them by Kevin, his assistant Samantha and their associated equity release solicitors. 'It was all very speedy and efficient with no problems at all. Even though we were overseas during much of the process, we were kept informed throughout and always treated respectfully. Kevin is efficient, friendly and professional and we have been really pleased with everything he has done for us.'”
A couple in their late 60s
Why not get in touch and see how we can help?
Equity release could be the answer to some of your financial questions. If you would like to know more about it, and see if it could be the right option for you, please book an appointment or request a call-back
Providers include
Equity release will reduce the value of your estate and may also affect your entitlement to means-tested benefits. You should always think carefully before securing a loan against your home.
Unless you decide to go ahead with a plan, our service is completely free of charge, as our fixed advice fee of £1,695 is only payable on completion of a plan.
A lifetime mortgage is the most popular form of equity release, and is a loan secured against your home that’s typically repaid when you pass away or go into long-term care.
