Equity Release

Lifetime mortgages

Releasing equity involves borrowing against the value of your home. If you are aged over 55 and you need either a lump sum of money or a top up of income this is increasingly popular option for people looking at later life lending. Lifetime mortgages allow you to borrow money which is secured against your home. You can either choose to either pay the interest monthly or pay nothing at all and add it to the loan. The loan and any interest are then repaid when you die or you move into care.

The loans differ from conventional mortgages with many options to consider.

People release equity for a number of reasons such as home improvement, repaying an existing interest only mortgage where there is no repayment vehicle, gifting money to family, health care or as a top up to income. This is an expanding market and we will help guide you through the options you have as well as explaining features such as the no negative equity guarantee and drawdown options you. This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.