Lifetime mortgages
If you are in your mid-50s or older, own your own home and want additional funds, then releasing the equity in your property through a lifetime mortgage may be a way of achieving this. There are various types of lifetime mortgage available and will generally involve taking out of a mortgage secured against the value of the home in order to provide a cash lump sum, regular income or both.
These schemes can be helpful in certain circumstances but are not suitable for everyone. There are advantages and disadvantages involved and it would be prudent to seek professional advice before committing yourself. It is important that you consider all the options available in order to be sure you take the most suitable action for your own needs and circumstances.
This is a Lifetime mortgage. To understand the features and risks, ask for a personalised illustration
We don't usually charge a fee, but depending on individual cases we ocassionally charge a fee of £250, in addition to reciving commission. Alternatively, you may choose to pay a fee of 1% of the loan amount, and we will refund any commission. For example, on a loan of £100,000, a fee of £1,000 would be payable.
We will discuss this prior to application
For Equity Release Schemes, we usually charge a fee of £550. In addition we will receive commission from the lender.
Alternatively, you may pay a fee of 1% and any commission would be refunded. For example, on a loan of £100,000 a fee of £1,000 would be payable.