Making the wrong decision can lead to costly mistakes that you’ll have to pay for later in life. These mistakes can leave you without enough money when you need it the most, taking away the security that a lifetime mortgage should provide.
Getting a lifetime mortgage consultation takes just 30 seconds. Book your free free chat today to get started.
During our initial call, we will learn more about you and your financial goals and discuss the options available to you.
Our friendly, knowledgeable mortgage advisor will assist you every step of the way through a sound financial plan.
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Making the wrong decision can lead to costly mistakes that you’ll have to pay for later in life. These mistakes can leave you without enough money when you need it the most, taking away the security that a lifetime mortgage should provide.
Let us help you make the right choice. Our experienced team will guide you every step of the way, making sure your lifetime mortgage is tailored to fit your exact needs. With our expertise and knowledge, you can move forward confidently with a plan that’s built around your needs.
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Equity release key points |
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You must be over the age of 55 to qualify for a lifetime mortgage |
The amount of money you can borrow will depend on your age, the value of your home, and your health |
You will not have to make monthly repayments on a lifetime mortgage, but interest will continue to accrue on the loan |
You will need to pay a fee to take out a lifetime mortgage |
There are no early repayment charges on a lifetime mortgage |
A lifetime mortgage is a type of loan that allows you to release equity from your home without having to make monthly repayments. The loan is secured against your property, and it is usually repaid when you die or move into long-term care.
You must be over the age of 55 to qualify for a lifetime mortgage. You will also need to have a good credit history and be a homeowner.
The amount you can borrow will depend on your age, the value of your home, and your health. You can borrow up to 50% of the value of your home, but this may be lower depending on your circumstances.
There are no monthly repayments on a lifetime mortgage. The interest on the loan is rolled up each year, and this is added to the amount you owe. The loan is usually repaid when you die or move into long-term care.
There are a number of risks associated with lifetime mortgages, including:
There are also a number of benefits to lifetime mortgages, including: