It’s very regular to discover individuals looking for lump sum lifetime mortgages, home reversion plans or monthly payment lifetime mortgage. However, Key Solutions like Maximum cover Equity Release are keen to see evidence of your circumstances in the form of investment statements.
Can 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 you have more monthly disposable income.
The mortgage 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.
It’s common to encounter individuals searching for lump sum lifetime mortgages, lump sum lifetime mortgages or home reversion schemes, however, Legal and General like The Exeter Equity Release is eager to see paperwork to show your circumstances in the form of bank statements.
Lump sum lifetime mortgages can reduce the inheritance for your family. Home reversion schemes may impact entitlements to benefits. You may need to pay a valuation fee and some products expose you to changes in interest rates.
The more elderly you are and the sicker you are, the more cash you can release.
Because people want to borrow money against their home with no monthly repayments their is a significant demand for a lender is offering equity release mortgage under 55. However, the best way to borrow money against your home is to get a conventional mortgage or low rate secured loan.