- Lifetime mortgages are the most popular form of equity release, it is a mortgage secured against your home.
- Typically with a lifetime mortgage there are no monthly repayments to make as the loan plus rolled up interest is repaid when the plan comes to an end.
- You can opt to make monthly payments anything from the minimum (usually £50.00 or any amount up to the full monthly interest payment.
- You can even make over payments to reduce the outstanding debt
- Equity release will reduce the value of your estate.
- Securing an Lifetime mortgage on your home may affect your entitlement to any means tested benefits.
- You should always think carefully before securing a loan against your home.
- Unless you decide to go ahead, our service is completely free of charge as our fixed advice fee of 1% of the advance is only payable on completion of the mortgage.
If you are interested in finding out if an Equity Release mortgage is right for you call Lifelink on 01189 349800 and speak to one of our expert advisers, and receive your free consultation, no fees are payable unless you decide to proceed.