It is usual to discover people searching for lump sum lifetime mortgages, lifetime mortgage with flexible drawdown cash release or home reversion schemes, however, More2Life like AA equity release are keen to see proof of your situation in the form of pension statements.
Often used to help tax planning and interest rates are attractive. Low rate way of helping family to buy their own home or pay off your own debts like loans and credit cards so you can spend more of your monthly income.
The 1st and 2nd charge lender will want to know if the property is a Semi detached freehold house or a Leasehold flat with share of freehold and if the resident is an Owner Occupier Primary Residence.
Its usual to find individuals looking for monthly payment equity release, monthly payment life time mortgage or monthly payment equity release, however, Key Retirement like Legal & General are eager to see paperwork to show your circumstances in the form of pension statements.
Lifetime mortgage with flexible drawdown cash release can reduce the inheritance for your family. Monthly payment life time mortgage may impact ability to claim benefits. You may need to pay an advisor’s fee and you could be exposed to changes in interest rates with some products.
The more aged you are and the the more illnesses you have you are the more money you can release.