A Lifetime Mortgage gives you the chance to unlock the money tied up in your home and can help to make the most of your retirement, whether topping up pensions or using the funds to improve your lifestyle.
There are various Lifetime Mortgage products on the market including fixed rate for life, tracker rate for life, protected equity schemes that are available from a host of different lenders.
We can introduce you to one of the UK’s leading lifetime mortgage specialists, who are happy to arrange a visit to discuss your requirements. Lines are open, call NOW on 0345 603 1525.
How a lifetime mortgage works
If you (and your partner) are aged 60 or over, and you own your own home you could be eligible for a lifetime mortgage and borrow a cash lump from the equity within your home. The amount of equity you can release will depend on your age and the value of your property. Age limits and minimum property values will vary between lenders.
A lifetime equity release mortgage is a commitment for the rest of your life and should not be used to get cash in the short term. If you choose to repay the loan early you may have to pay a large early repayment charge. If you are entitled to welfare or tax benefits these may be affected. As a result, most lifetime mortgage providers recommend that you take legal advice before proceeding, and also that you seek independent financial advice. And using equity release will, of course, have a major impact on your estate, so it can make sense to discuss the matter with your family before going ahead.
We can introduce you to one of the UK’s leading lifetime mortgage specialists, who are happy to arrange a visit to discuss your requirements. Call us now on 0345 603 1525.