It’s common to encounter people searching for home reversion plans, monthly payment life time mortgage or monthly payment equity release, however, More2Life like Zurich are keen to see evidence of your situation in the form of investment statements.
Can be a vehicle to reduce tax bills and interest rates are attractive. Low rate way of helping family to buy their own home or pay down your own credit cards and loans so you can spend more of your monthly income.
The 1st and 2nd charge lender will want to know if the property is a Freehold terraced house or a Leasehold house and if the resident is an AST Tenant.
Its usual to find individuals searching for lumpsum lifetime mortgages, lump sum life time mortgages or lifetime mortgage with flexible drawdown cash release, however, the Telegraph like Legal & General are eager to see evidence of your circumstances in the form of investment statements.
Home reversion plans can reduce your estate value. Lifetime mortgage with flexible drawdown cash release may impact entitlements to state benefits. You may need to pay a broker’s fee and some products expose you to changes in interest rates.
The older you are and the sicker you are the more tax free money you can release.
As well as your options for equity release, you could consider a Natwest interest only mortgage as they can have some of the best rates in the market.
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