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
A fee maybe charged on completion of the mortgage which can be added to the amount borrowed. Please ask for a personalised illustration. The fee is only payable on legal completion of the mortgage. Our typical fee is £395
We will also be paid commission from the lender. We may receive a referral fee from the solicitor.
The actual fee will depend upon your circumstances. Paying off short term loans and credit cards with a mortgage could cost you more over the long term. Early repayment charges may apply.