It’s often found to find individuals searching for lifetime mortgage with flexible drawdown cash release, home reversion schemes or home reversion plans, however, Key Retirement like Aegon are keen to see proof of your personal circumstances in the form of investment statements.
Could be used to help tax planning and interest rates are attractive. Use the money to keep another family member away from a high loan to value mortgage or pay off your own debts like loans and credit cards so you have lower monthly outgoings.
The 1st and 2nd charge lender will want to know if the property is a Freehold house or a Leasehold house and if the resident is an Assured shorthold tenancy tenant.
It’s common to find individuals searching for monthly payment equity release, lump sum lifetime mortgages or monthly payment equity release, however, Bower like VitalityLife Equity Release are eager to see proof of your circumstances in the form of pension statements.
Monthly payment equity release can reduce the inheritance for your family. Lump sum lifetime mortgages may impact entitlements to benefits. You may need to pay a valuation fee and some products expose you to changes in interest rates.
The older you are and the more illnesses you have you are the more money you can release.