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 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.
How much will you have to pay for our equity release services?
For establishing your needs, undertaking research and making a recommendation, we charge an initial fee of £250 and a further fee of £2,000 will become due when the application for a lifetime mortgage or home reversion plan is made but payable on completion if the contract goes ahead.
This fee will be taken as commission from the product provider and you are to make up the difference between the two should the commission be less than £2,000. Should you not proceed with the contract you will liable for the whole fee.
We accept direct payment by cheque, debit card, credit card or bank transfer. We do not accept cash.
You will receive a personalised illustration when considering a particular equity release product. This will highlight the key facts about the lifetime mortgage or home reversion plan including any fees relating to it
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