Lifetime mortgages allow you to release money from the value of your home and it can be a good way to supplement your income or provide a lump sum. However it is not necessarily right for everyone, and as undertaking a lifetime mortgage is a serious decision you should always seek professional advice before committing yourself. We have our own specialist adviser within the practice who is able to give professional advice on this complicated, but very important area of the market. We have many very happy and contented clients who have made use of this system. We always try to understand your hopes and aspirations for the future in order to help you review your options to come up with the most suitable scheme for your circumstances, from a carefully selected range of plans.
You could use the money for whatever you want, whether this is maintaining your home, helping your family financially or even paying for a holiday, all our schemes recommended include a ‘no negative equity guarantee’. This protects you by guaranteeing that the value of the outstanding loan will never amount to more than the value of your property.
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A cash lump sum or income from an equity release scheme may reduce the borrower’s eligibility to state benefits.
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An equity release scheme will reduce the value of the borrower’s estate and may leave nothing to pass on as an inheritance.
This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.