It is common to find individuals looking for monthly payment equity release, lifetime mortgage with flexible drawdown cash release or lifetime mortgage with compliant drawdown cash release. However, Age Partnership like LV Liverpool Victoria is keen to see evidence of your circumstances in the form of bank statements.
Often used to help tax planning and interest rates can be attractive. Help your family get a deposit for their own home or pay down your debts so that 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 Owner Occupier Primary Residence.
It’s usual to discover individuals looking for lifetime mortgage with flexible drawdown cash release, lump sum lifetime mortgages or lifetime mortgage with adjustable drawdown cash release, however, Legal and General like Old Mutual Wealth are eager to see proof of your circumstances in the form of bank statements.
Lifetime mortgage with flexible drawdown cash release can reduce the value of your estate. Lifetime mortgage with compliant drawdown cash release may impact the ability to get state benefits. You may need to pay a valuation fee, and you could be exposed to changes in interest rates with some products.
The more elderly you are and the unhealthier you are, the more tax-free money you can release.