Benefits of a Lifetime Mortgage
A lifetime mortgage hold benefits suitable for many people in later life:
- Tax-free cash lump sums
- No need to move
- No negative equity guarantee
- Freedom to move if needed
- Inheritance protection options
- Reserve facilities
- Flexible interest payments if needed
- Available from 55 years old
To understand the features and risks of a lifetime mortgage, please ask for a personalised illustration.
An equity release product will reduce the value of your estate. Check that this mortgage will meet your needs if you want to move or sell your home or you want your family to inherit it. If you are in any doubt, seek independent advice
Types of Lifetime Mortgage
There are several types of Lifetime Mortgages when it comes to interest.
|Roll-up Interest||Interest Only Lifetime Mortgage|
|With these plans, interest is rolled up for the lifetime of the mortgage. All plans from lenders part of the Equity Release Council feature a no negative equity guarantee, so no money will be owed at the end of the mortgage once the house is sold.||There are plans which allow you to pay off some or all the interest on the loan, should you wish to. This reduces the impact of the interest, but you will need to use the income to pay for this.|
How it works
Contact our expert advisors, by phone, in person or via a video call.
Your financial adviser will research to find the most suitable plan for your needs and explain any appropriate options.
If you agree with the option presented, an application can be made to the lender.
An independent valuation is conducted and a solicitor confirms your application. Lenders will make the formal mortgage offer.
A tax-free lump sum is unlocked from your property is paid to your bank account to use how you wish.
Equity Release Council
All lifetime mortgages offered by Unleash Equity conform to the guidelines set by the Equity Release Council.