Ask how much you can borrow
Why not use our simple form to request an estimate of how much you can borrow?
Lifetime Mortgages
Ask how much you can borrowA lifetime mortgage is similar to a standard mortgage: it is a loan which is secured against your property’s value. In other words, you are using the value of your home as security for borrowing money. The loan is repaid out of the future sale of the property, generally when you die or, if you are a couple, when the surviving partner dies or goes into long term care.
No monthly repayments
The main difference with a lifetime mortgage is that, during your borrowing period, you make no monthly repayments. However, some providers have the option of paying all of the interest and some of the capital on an ad hoc basis, thus avoiding the effect of ‘rolled up’ interest.
Interest
Interest is added to the loan and is repaid at the end. 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 for the rest of your life or for as long as you choose.
Property value
Over time, the loan will increase in value, with the addition of interest, but this can generally be offset by the increase in the value of your property. We would recommend speaking to a specialist, who can explain the impact if your property increased (or decreased) in value over time.
What my customers say about working with me
““We recommend without any hesitation Kevin Woods as your adviser for equity release. He explained all matters very clearly, without any rush or any pressure. He responded very quickly any questions we had. He kept on top of the whole process at all times in a most positive manner. A true gentleman at all times.”
Mr & Mrs A Haslemere 12 Jan 2020
What my customers say about working with me
““We recommend without any hesitation Kevin Woods as your adviser for equity release. He explained all matters very clearly, without any rush or any pressure. He responded very quickly any questions we had. He kept on top of the whole process at all times in a most positive manner. A true gentleman at all times.”
Mr & Mrs A Haslemere 12 Jan 2020
Why not get in touch and see how we can help?
Equity release is the answer to so many financial questions. If you would like to know more about it, and see if it could be the right move for you, please book an appointment or request a call-back
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