It’s usual to discover people searching for monthly payment life time mortgage, home reversion plans or monthly payment equity release, however, Age Partnership like Royal London Equity Release are keen to see evidence of your circumstances in the form of bank statements.
Equity Release Providers
Often used to help tax planning and interest rates are attractive. Help a family member buy their own home with a smaller mortgage or pay down your own credit cards and loans so you have lower monthly outgoings.
The mortgage lender will want to know if the property is a Semi detached freehold house or a Leasehold house and if the resident is an Assured shorthold tenancy tenant.
It’s common to discover people seeking out home reversion schemes, lumpsum lifetime mortgages or home reversion schemes, however, Key Retirement like Royal London Equity Release are eager to see proof of your personal circumstances in the form of investment statements.
Interest-only lifetime mortgages can reduce the inheritance for your family. Home reversion schemes may impact the ability to claim benefits. You may need to pay a solicitor’s fee and you could have higher rates to pay with some schemes.
The more aged you are and the sicker you are the more tax-free money you can release.