Its common to encounter people looking for home reversion plans, monthly payment life time mortgage or interest-only lifetime mortgages, however, Key Retirement like Aegon are keen to see proof of your circumstances in the form of investment statements.
Can be a vehicle to reduce tax bills and interest rates are attractive. Use the money to keep another family member away from a high loan to value mortgage or pay down your own debts so you have lower monthly outgoings.
The mortgage lender will want to know if the property is a Detached freehold house or a Leasehold flat with share of freehold and if the resident is an AST Tenant.
Its very regular to discover people looking for lump sum lifetime mortgages, lumpsum lifetime mortgages or home reversion plans, however, Age Concern like Royal London Equity Release are eager to see evidence of your situation in the form of investment statements.
Lump sum lifetime mortgages can reduce the value of your estate. Lifetime mortgage with flexible drawdown cash release may impact entitlements to benefits. You may need to pay a solicitor’s fee and you could have higher rates to pay with some schemes.
The older you are and the the more illnesses you have you are the more tax free cash you can release.