Lifetime Mortgages
A Lifetime mortgage involves borrowing against your home. There may be more suitable methods of raising the funds for your needs.
With a lifetime mortgage every year interest is added to the amount you owe. This will reduce the remaining equity in your home. If you live a long time or house prices fall there may be no equity left for your heirs to inherit.
This is a Lifetime mortgage. To understand the features and the risks ask for a personalised illustration.
Home Reversion Schemes
A home reversion scheme involves borrowing against your home. There may be more suitable methods of raising the funds for your needs.
With a home reversion scheme you sell all or part of your home to a company and continue to live as a tenant rather that a full owner.
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on death the plan provider receives the full value of the part of the property you have sold.
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Schemes can offer a lump sum a "drawdown" facility a regular income or a combination of these options.
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Releasing equity from your home may affect your entitlement to state benefits and grants.
You can choose how we get paid; pay a fee usually 1% of the loan amount or we can accept a commission from the lender.